5. As from the day on which this Order comes into operation the undertaking is transferred to the Company including—
(a)all that property vested in the statutory company which immediately before the commencement of this Order was held by them for the purposes of the undertaking;
(b)all rights, liabilities and obligations of the statutory company subsisting immediately before the commencement of this Order for the purpose of the undertaking and arising other than under any local enactment relating to the statutory company.
6. On the day on which this Order comes into operation the statutory company shall be wound up.
7.—(1) The accounts of the statutory company shall be made up to the day on which this Order comes into force and shall be audited by an auditor appointed by the Company, being a person qualified for appointment as auditor of a company by virtue of section 389 of the Companies Act 1985(1).
(2) The auditor’s fee shall be payable by the Company.
(3) Any sum certified by the auditor to be due from any person to the statutory company shall be paid to the Company.
8. All books and documents which, if this Order had not been made, would have been evidence in respect of any matter for or against the statutory company are admissible in respect of that matter for or against the Company.