11. Nothing in the repeal of paragraph 1(1)(a) and (c) of Schedule 2 to the 1981 Act or of sub-paragraphs (2) to (5) of paragraph 11 of that Schedule shall affect the continued operation of those provisions, with the exception, in sub-paragraph (3) of paragraph 11 of that Schedule, of the words “(otherwise than by virtue of paragraph 4(b))” and with the exception, in sub-paragraph (5) of that paragraph, of the words from “and shall” to the end, but on and after the vesting day—
(a)any person who is a member of the Central Board immediately before the vesting day by virtue of having been appointed by an eligible trustee savings bank pursuant to paragraph 1(1)(a) shall vacate his office, if he is not on the vesting day, or if he at any time thereafter ceases to be, a director of the successor bank;
(b)the successor bank shall be empowered to appoint one member of the Central Board in place of a member vacating his ofice whether by virtue of sub-paragraph (a) or sub-paragraph (c) of this Article;
(c)no person shall be appointed a member of the Central Board pursuant to sub-paragraph (b) of this Article unless he is also a director of the successor bank appointing him, and any person so appointed a member of the Central Board shall vacate his office if at any time he ceases to be a director of that bank;
(d)the successor bank may, in respect of the member appointed by the eligible trustee savings bank to which it is the successor bank and continuing in ofice pursuant to sub-paragraph (a) of this Article, or in respect of a member appointed by it pursuant to sub-paragraph (b) of this Article, appoint a person, being a director of the bank appointing him, to perform the duties of that member in his absence;
(e)the provisions of paragraph 11 of Schedule 2 to the 1981 Act specified above in this Article shall apply as if the reference in sub-paragraph (2) of that paragraph to a person appointed under sub-paragraph (1) were a reference to a person appointed under sub-paragraph (d) of this Article.