(1) Where a company has been formed and registered under the Companies Code in pursuance of section 1, the assets, properties, rights, liabilities and obligations of that statutory corporation shall by virtue of this section vest in the company referred to in this Act as "the successor company".

(2) Nothing in this Act shall prevent one successor company being registered in place of two or more of the statutory corporations specified in the Schedule to this Act two or more successor companies being registered in place of a statutory corporation specified in the Schedule.