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6.—(1) All contracts, deeds, bonds, agreements and other instruments subsisting in favour of, or against, and all notices in force which were given, or have effect as if given, by, or to, the LRB in respect of any property, rights or liabilities (“transferred matters”) transferred by this Order shall be of full force and effect in favour of, or against, the council (“the transferee”) to which such matters are transferred.
(2) Subject to article 2(3), any action or proceeding, or any cause of action or proceeding, pending or existing at the transfer date by or against the LRB and in respect of any transferred matters may be continued, prosecuted and enforced by or against the transferee.
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