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Preservation of certain continuing contracts and adaptation references to Authority in certain documents.
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71.—(1) Every bond, guarantee or other security of a continuing nature made or given by or on behalf of the Racing Board to any person or given by any person to and accepted by or on behalf of the Racing Board and every contract or agreement in writing made between the Racing Board and any other person and in force but not fully executed and completed immediately before the establishment day shall continue in force on and after such establishment day and shall be construed and have effect as if the Authority were substituted for the Racing Board as a party thereto and the name of the Authority were substituted therein for that of the Racing Board and shall be enforceable by or against the Authority.
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(2) References to the Racing Board contained immediately before the establishment day in the memorandum and articles of association of any company (within the meaning of the Companies Acts, 1963 to 1990), shall, on and after such establishment day, be construed as references to the Authority.
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