4.—(1) All property (including records) and rights to which the Board was entitled immediately before the revocation date, and any obligation to which the Board was then subject, not having been discharged under article 2(3) above, are transferred to and vest in the Secretary of State.
(2) Any proceedings which, but for the revocation in article 3 above, could have been commenced or continued by or in relation to the Board, may be commenced or continued by or in relation to the Secretary of State.
(3) Any relevant documents continue in effect but subject to the following modifications, so far as any one or more of them are applicable—
(a)if the Board is a party to a relevant document, the Secretary of State be substituted as that party;
(b)for a reference in a relevant document (however worded and whether express or implied) to the Board, as respects anything falling to be done or occurring on or after the revocation date, there be substituted a reference to the Secretary of State;
(c)for a reference in a relevant document (however worded and whether express or implied) to the members or any member or to the officers or any officer of the Board, as respects anything done or falling to be done or occurring on or after the revocation date, there be substituted a reference to such officer or officers as the Secretary of State appoints for the relevant purpose; and
(d)for a reference in a relevant document to the office or place of business of the Board there be substituted a reference to the office or place of business of the Secretary of State.