17. Existing contracts

All deeds, bonds, agreements, instruments and working arrangements subsisting immediately before 1 April 1992 affecting the lands, buildings and other properties, movable or immovable, transferred under section 16 or any employee of the Vocational and Industrial Training Board transferred to the service of the Institute under section 19 are of full force and effect against or in favour of the Institute and enforceable as fully and effectually as if, instead of the Vocational and Industrial Training Board, the Institute had been named therein or had been a party thereto.