37.— (1) A claim in respect of any loss or injury alleged to have been suffered by any person arising out of the performance before the commencement of this Part of the functions of the dissolved body transferred to the Board under section 33 shall after that day, lie against the Board and not against the dissolved body.

(2) Any legal proceedings pending immediately before the commencement of this Part to which the dissolved body is a party, that relate to a function of the Board, shall be continued, with the substitution in the proceedings of the Board, in so far as they so relate, for the dissolved body.

(3) Where, before the commencement of this Part, agreement has been reached between the parties concerned in settlement of a claim to which subsection (1) relates, the terms of which have not been implemented, or judgment in such a claim has been given in favour of a person but has not been enforced, the terms of the agreement or judgment, as the case may be, shall, in so far as they would have been enforceable against the dissolved body, be enforceable against the Board and not the dissolved body.

(4) Any claim made or proper to be made by the dissolved body in respect of any loss or injury arising from the act or default of any person before the commencement of this Part shall, where the claim relates to functions assigned to the Board by this Act, be regarded as having been made by or proper to be made by the Board and may be pursued and sued for by the Board as if the loss or injury had been suffered by the Board.