50. Transfer of assets and liabilities of fire service of local authority.
(1)One the appointed day, all the assets and liabilities appertaining to the Service, maintained by all local authorities shall stand transferred to and vest in the Government.(2)The assets pertaining to the Service shall be deemed to include all rights and powers, and all property whether movable or immovable pertaining to the Service including in particular all fire fighting property and all interests and rights in or arising out of such property, as may be in possession of the local authority and all books of account or documents relating to the Service of the local authority; and liabilities shall be deemed to include all debts, liabilities and obligations of whatever kind then existing and pertaining to the Service of the local authority.
