SCHEDULES
SCHEDULE 1 PROVISIONS SUPPLEMENTARY TO S. 1
Provisions as to vesting of property etc.
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Where immediately before the appointed day there is in force an agreement which—
a
confers or imposes on the Corporation or Board any rights or liabilities which vest in the successor company by virtue of section 1 of this Act, and
b
refers (in whatever terms and whether expressly or by implication) to a member or officer of the Corporation or Board,
the agreement shall have effect, in relation to anything falling to be done on or after that day, as if for that reference there were substituted a reference to such person as that company may appoint or, in default of appointment, to the officer of that company who corresponds as nearly as may be to the member or officer of the Corporation or Board in question.