Section 3: Transfer of undertaking

3. Transfer of undertaking (1) The undertakings in moveable assets, of EPZDA, MIDA and SUBEX-M shall, on the coming into operation of this subsection, vest in Enterprise Mauritius. (2) The undertaking of EPZDA in immovable assets shall, on the coming into operation of this subsection, vest in Enterprise Mauritius. (3) Subject to subsection (4), the undertakings of MIDA in immovable assets shall, on the coming into operation of this subsection, vest in BPML. (4) The undertaking of MIDA relating to its industrial estate in Plaine Verte shall, on the coming into operation of this subsection, vest in Enterprise Mauritius. (5) This subsection shall be given effect to by an instrument drawn up and signed by the representatives of EPZDA, MIDA or SUBEX-M, and Enterprise Mauritius or BPML, as the case may be. (6) The Government shall, on or after the coming into operation of this Act, enter into agreements with Enterprise Mauritius and BPML, on such terms and conditions as may be agreed upon in relation to any contract, right, obligation, liability or arrangement subsisting on the coming into operation of this Act in favour of or against EPZDA, MIDA and SUBEX-M. (7) Any right or obligation not the subject of an agreement under subsection (6), which subsists on the coming into operation of this Act in favour or against the organisation shall, on the coming into operation of this Act, be a right or obligation enforceable in favour of or against the Government.