Section 151: Existing rights, interest, etc, under the repealed Acts.

(1) The rights, interests, obligations and liabilities of the Commission, existing before the commencement of this Act under any contract or instrument, or in law or in equity shall by virtue of this Act be deemed to have been preserved, assigned to and vested in the Commission established by this Act to the extent that they are not inconsistent howsoever with any of the provisions of this Act.
(2) Any such contract or instrument as is mentioned in subsection (1) of this section shall be of the same force and effect against or in favour of the Commission established by this Act and shall be enforceable as fully and effectively as if instead of the Commission existing before the commencement of this Act the Commission established by this Act had been named therein or had been a party thereto provided that such contract or instrument is not inconsistent with any of the provisions of this Act.