Authority to enforce certain contracts or agreements.

Authority to enforce certain contracts or agreements. All contracts, agreements and other instruments of whatever nature subsisting or having effect immediately before the date of constitution of the authority and to which an existing Board was a party shall be of full force and effect against or in favour of the Authority and may be enforced and acted upon fully and effectively as if instead of the existing Boards, the Authority had been a party thereto or as if they had been entered into or issued in favour of the existing Board for the purposes of the Authority.