Existing agreements, etc.

All deeds, bonds, agreements, instruments and working arrangements, subsisting immediately before the date of commencement of this Act, affecting any of the property, rights, interests, liabilities and obligations transferred to or vested in the Authority or Commission under this Act shall continue in force on and after that date and shall be enforceable by or against the Authority or Commission as if, instead of the erstwhile department or a person acting on behalf of the erstwhile department, the Authority or Commission had been named therein or had been a party thereto.