7. Any action, arbitration or other proceeding, or any cause of action, arbitration or other proceeding, pending or existing immediately before the day of transfer by or in favour of or against A.B. Ports or by or in favour of or against the Authority as agent for A.B. Ports in relation to A.B. Ports’ undertaking in respect of Mutford Lock and the adjoining land (other than an action, arbitration or proceeding which is or may be an issue between A.B. Ports and the Authority) may—
(a)not be maintained, prosecuted or continued by or in favour of or against A.B. Ports, but
(b)in so far as it relates to property or duties or powers transferred by this Order be maintained, prosecuted or continued by or in favour of or against the Authority and may be amended in such manner as may be necessary for that purpose.