Article 5 Other provisions relating to the dissolution of the Board

Every contract, agreement, licence and authority, whether written or not, and every deed, bond, instrument and document made before 31st December 1971 and still in effect on that date relating to property, rights or liabilities of the Board vested in the Secretary of State for Trade and Industry by virtue of section 9(3) of the Act shall continue in effect but subject to the following modifications so far as they are applicable—

(a)

if the Board is a party thereto, the Secretary of State for Trade and Industry shall be substituted as that party;

(b)

for a reference (however worded and whether express or implied) to the Board there shall as respects anything falling to be done or occurring after that date be substituted a reference to the Secretary of State for Trade and Industry;

(c)

for a reference (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 or falling to be done or occurring after that date a reference to such officer or officers as the Secretary of State shall appoint for the purpose;

(d)

for a reference to the office or place of business of the Board there shall be substituted a reference to the principal offices of the Department of Trade and Industry.