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Preservation of existing contracts.
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36.— (1) Every bond, guarantee or other security of a continuing nature made or given by the Company to any person, or by any person to the Company, that is in force immediately before the establishment day, and every contract or agreement in writing made between the Company and any other person that is in force but is not fully executed and completed immediately before the establishment day, shall continue in force on and after that day and shall be construed and have effect as if the name of the Authority were substituted therein for that of the Company.
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