4. All deeds, contracts, bonds, agreements, notices and demands affecting A.B. Ports as harbour authority for Mutford Lock and the adjoining land and in force immediately before the day of transfer (other than any agreement or deed the parties to which include both A.B. Ports and the Authority) shall (insofar as they relate to A.B. Ports as harbour authority for Mutford Lock) on and from that day—
(a)be as binding and of as full force and effect in every respect, and
(b)may be enforced as fully and effectively against or in favour of the Authority as if (except in any case where the Authority as agent for A.B. Ports is already a party thereto) the Authority instead of A.B. Ports had been a party thereto or bound thereby or entitled to the benefit thereof.