(1) Upon the commencement of this Act—
(a) all land and other property of every kind, vested immediately before the commencement of this Act in the Hospital are hereby vested in the Board;
(b) all rights, privileges and all the liabilities and other obligations to which, immediately before the commencement of this Act the Hospital was entitled or subject to, are hereby transferred and conferred or imposed upon the Board for the purposes of this Act.
(2) A person employed by the Hospital who transfers to the employment of the Board shall—
(a) be treated as if the person's employment in the service of the Hospital was employment in the service of the Board;
(b) be employed under terms and conditions no less favourable than when they were employed in the service of the Hospital.
(3) A reference in any deed, contract, hypothecary obligation, bond or security, or other document to the Hospital shall upon commencement of this Act be construed as a reference to the Board.