Any action, arbitration or proceeding and any cause of action, arbitration or proceeding pending or existing immediately before the appointed day by or against or in favour of the Corporation in relation to the undertaking shall not abate or be discontinued or be in anywise prejudicially affected by the transfer to the Heritage Foundation of the undertaking or by anything in this Act, but it may be continued, prosecuted and enforced by, against or in favour of the Heritage Foundation as and when it might have been continued, prosecuted and enforced by, against or in favour of the Corporation if this Act had not been passed, but not further or otherwise.