4(1)This paragraph applies to any locality which was a development district within the meaning of the [1960 c. 18.] Local Employment Act 1960, or was by virtue of section 1(4) of that Act treated as if it formed part of such a district, immediately before 19th August 1966 and did not on that date become a development area.
(2)The Secretary of State may complete under section 5 of this Act, buildings or works in the locality begun by the Board of Trade before that date under section 2 of the said Act of 1960 and may exercise, in relation to land in that locality, his powers under the said section 5 so far as may be necessary for the purpose of fulfilling any agreement entered into by the Board before that date.
(3)Any Minister may make a grant or loan under any provision of this Act as if the locality were a development area in any case in which an application for a grant or loan under the corresponding provision of the said Act of 1960 was received by the Board of Trade or the Minister concerned before 19th August 1966.
(4)The fact that any locality which was, or was treated as forming part of, a development district immediately before 19th August 1966 did not on that date become a development area shall not prejudice the continued operation of any agreement relating to grants or loans entered into under the said Act of 1960.
5In any enactment or instrument passed or made before 19th August 1966, for any reference to an industrial estates corporation by its original name (that is, the name given to it by section 8 of the Local Employment Act 1960) there shall be substituted a reference to that corporation by the new name given to it by section 19(1) of the [1966 c. 34.] Industrial Development Act 1966 (that is, the appropriate name specified in section 10(1) of this Act).