Certain rights not affected
61The transfer and vesting effected under subsection 53(1) or the transfer of employees under subsection 57(1)
(a)
shall be deemed not to constitute
(i)
a breach, termination, repudiation or frustration of any contract, including a contract of employment or insurance,
(ii)
a breach of any Act, regulation or local government by-law, or
(iii)
an event of default or force majeure under any contract,
(b)
shall be deemed not to give rise to a breach, termination, repudiation or frustration of any licence, permit or other right,
(c)
shall be deemed not to give rise to any right to terminate or repudiate a contract, licence, permit or other right, and
(d)
shall be deemed not to give rise to any estoppel.