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5.—(1) Anything done by or in relation to, and any application made by, or any direction, authorisation or notice given to or by, the old FTs is deemed to have been done by or in relation to or made by or given to or by the new FT.
(2) Any instrument made by the old FTs continues in force in relation to the new FT until it is varied or revoked by the new FT.
(3) Any form supplied by the old FTs or by Monitor in relation to the old FTs continues to be a valid form in relation to the new FT until it is cancelled or withdrawn by the new FT or by Monitor, as if any reference contained in that form to the old FTs were a reference to the new FT.
(4) Any reference to the old FTs in any contract, arrangement, agreement or instrument or other document in connection with any of the functions of the old FTs or any property or liabilities transferred as a consequence of article 3 of this Order is to be treated as a reference to the new FT.
(5) Paragraphs (1) to (4) are subject to article 4 (1) and (2).
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