sec.54Act does not affect existing legal relationships

### sec.54 Act does not affect existing legal relationships This Act has effect despite anything in any instrument. Nothing done under this Act in relation to TABQ— places TABQ or the State in breach of a contract, trust or confidence or otherwise makes TABQ or the State guilty of a civil wrong; or makes TABQ or the State in breach of any instrument, including an instrument prohibiting, restricting or regulating the assignment, transfer or assumption of any right or liability or the disclosure of any information; or is taken to fulfil a condition— allowing a person to terminate an instrument or be released, wholly or partly, from an obligation or modify the operation or effect of an instrument or obligation; or requiring money to be paid, or anything else to be done, before its stated maturity; or releases a surety or other obligee, wholly or partly, from an obligation. If, apart from this subsection, obtaining the advice or consent of, or giving notice to, a person would be necessary under an instrument to give effect to a transaction contemplated by this Act, the advice or consent is taken to have been obtained or the notice is taken to have been given. In this section— TABQ includes a TABQ subsidiary. (sec.54-ssec.1) This Act has effect despite anything in any instrument. (sec.54-ssec.2) Nothing done under this Act in relation to TABQ— places TABQ or the State in breach of a contract, trust or confidence or otherwise makes TABQ or the State guilty of a civil wrong; or makes TABQ or the State in breach of any instrument, including an instrument prohibiting, restricting or regulating the assignment, transfer or assumption of any right or liability or the disclosure of any information; or is taken to fulfil a condition— allowing a person to terminate an instrument or be released, wholly or partly, from an obligation or modify the operation or effect of an instrument or obligation; or requiring money to be paid, or anything else to be done, before its stated maturity; or releases a surety or other obligee, wholly or partly, from an obligation. (sec.54-ssec.3) If, apart from this subsection, obtaining the advice or consent of, or giving notice to, a person would be necessary under an instrument to give effect to a transaction contemplated by this Act, the advice or consent is taken to have been obtained or the notice is taken to have been given. (sec.54-ssec.4) In this section— TABQ includes a TABQ subsidiary. - (a) places TABQ or the State in breach of a contract, trust or confidence or otherwise makes TABQ or the State guilty of a civil wrong; or - (b) makes TABQ or the State in breach of any instrument, including an instrument prohibiting, restricting or regulating the assignment, transfer or assumption of any right or liability or the disclosure of any information; or - (c) is taken to fulfil a condition— (i) allowing a person to terminate an instrument or be released, wholly or partly, from an obligation or modify the operation or effect of an instrument or obligation; or (ii) requiring money to be paid, or anything else to be done, before its stated maturity; or - (i) allowing a person to terminate an instrument or be released, wholly or partly, from an obligation or modify the operation or effect of an instrument or obligation; or - (ii) requiring money to be paid, or anything else to be done, before its stated maturity; or - (d) releases a surety or other obligee, wholly or partly, from an obligation. - (i) allowing a person to terminate an instrument or be released, wholly or partly, from an obligation or modify the operation or effect of an instrument or obligation; or - (ii) requiring money to be paid, or anything else to be done, before its stated maturity; or