Prior transactions valid. In so far as may be necessary, all transactions engaged in, carried on and conducted prior to the commencement of this Act by the Government of the State as part of or in connection with the business as hitherto carried on by the said Albany Freezing Works, Limited, and purchased by the said Government pursuant to the said agreement shall be and are hereby validated; all contracts made and still subsisting in relation to the said business shall have effect at law and in equity according to the tenor thereof respectively in the same manner and extent as if such contracts had been made and entered into by and with the said West Australian Meat Export Works:
