14Until the coming into force of section 12 of the [1976 c. 69.] Companies Act 1976 in relation to unregistered companies to which section 147 of the [1948 c. 38.] Companies Act 1948 applies by virtue of section 435 of the said Act of 1948, section 54(1)(c) of this Act shall have effect in relation to such companies as if—
(a)for the reference to section 12 of the Companies Act 1976 there were substituted a reference to section 147 of the Companies Act 1948 ;
(b)for the reference to accounting records there were substituted a reference to proper books of account;
(c)for the reference to records there were substituted a reference to books.