Article 4 Incidental, transitional or consequential matters

(1)

All property (including records) and rights to which the Board was entitled immediately before the coming into force of this Article are hereby transferred to and shall vest in ATB-Landbase.

(2)

Any legal proceedings which, but for the revocation in Article 3 above, could have been commenced or continued by or in relation to the Board, may be commenced or continued by or in relation to ATB-Landbase.

(3)

Every contract, agreement, licence and authority, whether written or not, and every deed, bond, instrument and document made before the coming into force of this Article and still in effect at that time, which related to property or rights of the Board shall continue in effect, but subject to the following modifications, so far as they or any one or more of them are applicable—

(a)

if the Board is a party thereto ATB-Landbase shall be substituted as that party;

(b)

for a reference therein (however worded and whether express or implied) to the Board there shall, as respects anything done or falling to be done or occurring after that time, be substituted a reference to ATB-Landbase;

(c)

for a reference therein (however worded and whether express or implied) to the members or any member or to any officer or officers of the Board there shall be substituted, as respects anything done of falling to be done or occurring on or after the coming into force of this Article, a reference to such officers or officer as ATB-Landbase shall apppoint for the relevant purpose; and

(d)

for a reference therein to the office or place of business of the Board there shall be substituted a reference to the office or place of business of ATB-Landbase.