(2)Notwithstanding such repeal,-(a)every budget passed, loan taken, assessment made, building plan sanctioned, licence or permission or sanction granted or any other action taken or deemed to have been taken under the said Ordinance, shall be deemed to have been passed, taken, made, sanctioned, granted or issued under this Act.(b)all properties, movable or immovable, all rights of whatever kind, used, enjoyed on possessed by, and all of whatever interest kind owned by, or vested in a Municipality or other local authority as constituted or deemed to have been constituted under this said Ordinance, shall, at the commencement of this Act, be deemed to be owned by, or vested in, the Municipality as constituted under this Act;(c)all contracts made or liabilities incurred by a Municipality or local authority as constituted or deemed to have been passed, taken, made, sanctioned, granted or issued subsisting against such Municipality or local authority, shall, at the commencement of this Act, pass on to the Mur1icipality as constituted under this Act; and(d)all officers or other employees appointed or deemed to have been appointed under the said Ordinance and continuing in office immediately before the commencement of this Act shall be deemed to have been appointed under this Act.
