(1) Any absolute
assignment by writing under the hand of the assignor (not purporting to be by
way of charge only) of any debt or other legal chose in action, of which
express notice in writing has been given to the debtor, trustee, or other
person from whom the assignor would have been entitled to receive or claim
that debt or chose in action, is effectual in law (subject to equities having
priority over the right of the assignee), to pass and transfer from the date
of the notice —
(a) the
legal right to that debt or chose in action;
(b) all
legal and other remedies for the debt or chose in action; and
(c) the
power to give a good discharge for the debt or chose in action, without the
concurrence of the assignor.
(2) Where the debtor,
trustee, or other person liable in respect of the debt or chose in action
referred to in subsection (1) has notice —
(a) that
the assignment so referred to is disputed by the assignor, or any person
claiming under him; or
(b) of
any other opposing or conflicting claims, to the debt or chose in action,
he may, if he thinks
fit, either call upon the persons making claim thereto to interplead
concerning the debt or chose in action, or pay the debt or other chose in
action into court, under the provisions of the Trustees Act 1962 .
(3) For the purposes
of this section any debt or other legal chose in action includes a part of any
debt or other legal chose in action.