As from the close of 30 June 1988—
(a) the following provisions of this Act, namely,—
(i) the definition of the term Authority in section 2(1); and
(ii) Part 6; and
(iii) paragraph (a) of section 47; and
(iv) Schedule 2,—
shall expire; and
(b) section 11(1)(a) shall be amended by omitting the words “or the Authority”; and
“or the Authority”
(c) the Authority shall be dissolved; and
(d) all real and personal property belonging to the Authority shall become vested in the Crown; and
(e) all money payable to the Authority shall become payable to the Crown; and
(f) all liabilities, contracts, and engagements, and all rights and authorities of any nature whatever of the Authority shall become liabilities, contracts, engagements, rights, and authorities of the Crown; and
(g) all proceedings pending by or against the Authority may be carried on, completed, or enforced by or against the Crown.