Racing Board and Racecourses Act, 1945

Preservation of continuing contracts of the dissolved company.

35.—Every bond, guarantee, or other security of a continuing nature made or given by the dissolved company to any person, or by any person to such dissolved company, and in force immediately before the transfer date, and every contract or agreement in writing made between the dissolved company and another person and not fully executed and completed before the transfer date shall, notwithstanding the dissolution of the dissolved company, continue in force on and after the transfer date, but shall be construed and have effect as if the name of the Board were substituted therein for the name of the dissolved company, and such security, contract, or agreement shall be enforceable by or against the Board accordingly.