Existing agreements and pending proceedings
39.—(1)  All deeds, bonds, agreements, instruments and working arrangements subsisting immediately before 1st April 1992 affecting the telecommunication undertaking (other than the designated telecommunication property) transferred to the telecommunication successor company under section 31 or affecting any officer or employee of the Authority (other than the excepted telecommunication employees) transferred to the service of the company under section 36 shall continue in force on and after that date and shall be enforceable by or against the company as if instead of the Authority or any person acting on behalf of the Authority, the company had been named therein or had been a party thereto.
(2)  Any proceedings or cause of action relating to the Authority’s telecommunication undertaking (other than the designated telecommunication property) or to any officer or employee of the Authority (other than the excepted telecommunication employees) transferred to the service of the telecommunication successor company pending or existing immediately before 1st April 1992 by or against the Authority or any person acting on its behalf may be continued and shall be enforced by or against the company.