6N.I.Where a scheme is revoked by a subsequent scheme approved by an order of the Ministry, the subsequent scheme may provide for the transfer to the new board of the whole or any part of the property, rights and liabilities of the existing board, for the continuation by or against the new board of any legal proceedings pending by or against the existing board, and for the dissolution, without winding up, of the existing board.
In this paragraph the expression “new board” means the board administering the subsequent scheme, and the expression “existing board” means the board administering the scheme revoked.