(1) Assets, rights and liabilities of the State or an authority of the State
and forming part of or relating to an undertaking carried on by or under the
authority of a Minister or a government entity, or under the executive
authority of the State, may be transferred to a statutory SOC or any of its
subsidiaries, in exchange for the issue of shares or on any other basis.
(2)
The regulations under this Act may make provision for or with respect to the
transfer of any such assets, rights and liabilities to a statutory SOC or any
of its subsidiaries.
(3) The regulations under this Act may provide that
references in any Act, or in any regulation or other statutory rule under any
Act, or in any other instrument, or in any contract or agreement, to--