A Board shall be established for the purpose of managing the National Galleries of Scotland and for such other purposes connected with the promotion of the Fine Arts in Scotland as may be prescribed. The Board shall be called the Board of Trustees for the National Galleries of Scotland, and from and after the establishment of such Board, the Board of Trustees for Manufactures in Scotland (in this Act referred to as the Board of Manufactures), established by the [13 Geo. I. c. 26.] Linen and Hempen Manufactures (Scotland) Act, 1726, the [13 Geo. I. c. 30.] Fisheries (Scotland) Act, 1726, and letters patent issued in pursuance of the last-mentioned Act, and by any amending Acts, shall cease to exist, and a reference to the Board of Manufactures in any Act shall be construed as a reference to the Board, and subject to the provisions of this Act all the powers, duties, and liabilities vested in or imposed on the Board of Manufactures by any letters patent, Treasury minute, deed, or other instrument shall, until otherwise prescribed, be vested in, transferred to, and imposed on the Board, and, subject as aforesaid, the powers and duties of the Board shall be such, and shall be exercised and discharged by the Board in such manner, as may be prescribed.