Clause 99

All deeds, bonds, agreements and other arrangements subsisting immediately prior to the date determined by the Minister under section 98(1) affecting any property, rights, obligations and liabilities transferred under that section shall continue in full force and effect on and after that date and shall be enforceable by or against the transferee undertaking to which the transfer was made as if instead of the transferor undertaking the transferee undertaking was named therein or had been a party thereto.

Any proceedings or cause of action relating to property, rights, obligations or liabilities transferred under section 98 pending or existing prior to the date determined by the Minister under section 98(1) by or against the transferor undertaking from which such property, rights, obligations or liabilities were transferred may be continued and shall be enforced by or against the transferee undertaking.