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Preservation of certain continuing contracts and adaptation of references to Board in certain documents.
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54.—(1) Every bond, guarantee or other security, or licence, exemption or permission, of a continuing nature made or given by or on behalf of the Board to any person or given by any person to and accepted by or on behalf of the Board and every contract or agreement in writing made between the Board and any other person and in force but not fully executed and completed immediately before the vesting day shall continue in force on and after that day and shall be construed and have effect as if the name of the Company were substituted therein for that of the Board, and shall be enforceable by or against the Company.
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