139.— (1) Every contract, agreement or arrangement made between An Bord Uchtála and any other person and in force immediately before the establishment day—

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

(b) has effect as if the name of the Authority were substituted in the contract, agreement or arrangement for that of An Bord Uchtála, and

(c) is enforceable by or against the Authority.

(2) Notwithstanding subsection (1), a person who, immediately before the establishment day, has a contract, agreement or arrangement with An Bord Uchtála is entitled as of that day, without any legal consequences, to terminate the contract by notice in writing delivered to the Authority.