(1) Upon the commencement of this Act, all assets and liabilities of the Company, together with all its rights and obligations that are consistent with the provisions of the Agreement shall be deemed to have been transferred to and vested in the Corporation.
(2) A reference in any deed, contract, bond or security or other document subsisting immediately before the commencement of this Act against or in favour of the Company shall have full force and effect against or in favour of the Corporation and be enforceable as fully and effectually as if, instead of the Company or any person acting on behalf of the Company, the Corporation had been named as a party.