Clause 48

On the appointed day any scheme, contract, document, licence or resolution prepared, made, granted or approved by or on behalf of the previous Board shall continue and be deemed to have been prepared, made, granted or approved by the Board under this Act.

All obligations and liabilities of the previous Board existing immediately before the appointed day shall as from that day be the obligations and liabilities of the Board and the Board shall have all necessary powers to discharge them.

unless the context otherwise requires, any reference to the previous Board shall be construed as a reference to the Board.

Any proceedings or cause of action pending or existing immediately before the appointed day by or against the previous Board, or any person acting on its behalf, may be continued and enforced by or against the Board.