49. (1) Anything commenced and not completed before the establishment day by or under the authority of a dissolved body may, in so far as it relates to a function transferred to the Commission under section 44 , be carried on or completed on or after the establishment day by the Commission.

(2) Every instrument made under an enactment and every document (including any certificate) granted or made, in the performance of a function transferred by section 44, shall, if and in so far as it was operative immediately before the establishment day, have effect on and after that day as if it had been granted or made by the Commission.

(3) References to a dissolved body in the memorandum or articles of associations of any company shall, on or after the establishment day, be construed as references to the Commission.

(4) Any money, stocks, shares or securities transferred by section 46 that immediately before the establishment day were standing in the name of a dissolved body shall, on the request of the Commission be transferred into its name.

(5) A certificate signed by the Minister that any property, right or liability has or, as the case may be, has not vested in the Commission under section 46 or 47 shall be sufficient evidence, unless the contrary is shown, of the fact so certified for all purposes.