(1)Any person from time to time appointed in that behalf by Her Majesty by letters patent shall be the master of the Post Office by the style of Her Majesty's Postmaster-General.
(2)Upon and by virtue of the appointment of any person to be Her Majesty's Postmaster-General, the benefit of all contracts, bonds, securities and things in action vested in his predecessor at the time of the predecessor ceasing to hold office shall be transferred to and vested in, and enure for the benefit of, the person so appointed, in the same manner as if he had been contracted with instead of his predecessor and as if his name had been inserted in all such contracts, bonds and securities instead of the name of his predecessor.