The Corporation of the Battersea Park Commissioners, and all Corporations existing under the name of the Commissioners of Her Majesty's Works and Public Buildings, except the Corporation hereby confirmed, are hereby dissolved, but not so as to affect prejudicially any existing rights or pending proceedings ; and the continuing Corporation shall perform all the duties, and be subject to and bear and discharge all the existing liabilities of all the dissolved Corporations out of the funds applicable to the same respectively, and shall have the benefit of all covenants and agreements entered into with any of the dissolved Corporations.