27.
| (1) The Minister may, subject to the provisions hereinafter contained by Order published in the Gazette, transfer to the Authority-
| | (a) any vocational training centres or any technical institutes or any movable or immovable property of the State required for the discharge of the functions of the Authority ; and | | |
| | (b) any contract or liability of the State connected with any of the functions of the Authority. | | |
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| (2) No movable property, contract or liability of the State shall be transferred to the Authority under subsection (1), without the concurrence of the Minister in charge of the subject of Finance. |
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| (3) No immovable or property, of the State shall be transferred to the Authority under subsection (1), without the concurrence of the Minister in charge of the subject of Finance and the Minister to whom the subject of State lands is for the time being assigned. |
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| (4) Upon publication of an Order under subsection (1) in the Gazette-
| | (a) the properties specified in that Order shall vest in, and be the properties of, the Authority; | | |
| | (b) the contracts specified in that Order shall be deemed to be the contracts of the Authority and all subsisting rights and obligations of the State under such contracts shall be deemed to be the rights and obligations of the Authority ; | | |
| | (c) the liabilities specified in that Order shall be deemed to be the liabilities of the Authority, | | |
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Sri Lanka Consolidated Acts