86.—Every contract or agreement made between the National Social Work Qualifications Board (or any trustee or agent acting on its behalf) and any other person, and in force immediately before the transfer day—

(a) continues in force on and after that day,

(b) is to be read and have effect as if the name of the Council were substituted in the contract or agreement for that of the National Social Work Qualifications Board or, as the case may be, any trustee or agent acting on its behalf, and

(c) is enforceable against the Council.