3.—(1) All property (including records) and rights to which the Agency was entitled immediately before the dissolution date and any liabilities to which the Agency was then subject, not having been discharged under article 2(3) above are hereby transferred to and shall vest in the Secretary of State.
(2) Any legal proceedings which, but for this Order, could have been commenced or continued by or in relation to the Agency may be commenced or continued by or in relation to the Secretary of State.
(3) Every contract, agreement, licence and authority, whether written or not, and every deed, bond, instrument and document made before the dissolution date and still in effect at that time which relates to property, rights or obligations of the Agency shall continue in effect but subject to the following modifications, so far as they are applicable: —
(a)if the Agency is a party thereto the Secretary of State shall be substituted as that party;
(b)for a reference (however worded and whether express or implied) to the Agency there shall, as respects anything falling to be done or occurring after that time, be substituted a reference to the Secretary of State;
(c)for a reference (however worded and whether express or implied) to the members or any member or to any officer or officers of the Agency there shall be substituted as respects anything done or falling to be done or occurring on or after the dissolution date, a reference to such officer or officers as the Secretary of State shall appoint for the purpose; and;
(d)for a reference to the office or place of business of the Agency there shall be substituted the office of the Secretary of State.