Migrating from SQL2012 to SQL2016 - Issues when Programmatically Generating SSIS Data Flows

We have an SSIS application running successfully using SQL Server 2012 and Visual Studio 2012 in which a SSIS Script Task (Visual Basic 2012) is utilised to programmatically generate SSIS packages with Data Flow tasks and execute these. We now face issues when migrating from SQL Server 2012 to SQL Server 2016. We are out of ideas and would be grateful for any suggestions. The problem has been distilled down to the following simple SSIS Package with one Script Task and one Connection Managers entry for localhost.

================== Script Code - Start ==========================

#Region"Imports"

Imports System

Imports System.Data

Imports System.Math

Imports Microsoft.SqlServer.Dts.Runtime

#EndRegion

<Microsoft.SqlServer.Dts.Tasks.ScriptTask.SSISScriptTaskEntryPointAttribute()>

<System.CLSCompliantAttribute(False)>

PartialPublicClassScriptMain

   Inherits Microsoft.SqlServer.Dts.Tasks.ScriptTask.VSTARTScriptObjectModelBase

   PrivateFunction AddConnection(ByRef p AsPackage,ByVal cmAsConnectionManager)AsConnectionManager

       Dim newCMAsConnectionManager = p.Connections.Add(cm.CreationName)

       newCM.Name = cm.Name

       newCM.ConnectionString = cm.ConnectionString

       Return newCM

   EndFunction

   PublicSub Main()

       ''

       '' instantiate runtime application and package

       ''

       Dim appAsApplication =NewApplication()

       Dim pAsPackage =NewPackage()

       p.Name = "SSIS Dynamic DataFlow Example"

       p.PackageType = DTSPackageType.DTSDesigner100

       p.VersionBuild = 1

       ''

       '' Add DataFlow Task to package

       ''

       Dim eAsExecutable = p.Executables.Add("STOCK:PipelineTask")

       Dim mainTaskHostAsTaskHost =CType(e,TaskHost)

       Dim dataFlowTaskAsMainPipe =CType(mainTaskHost.InnerObject,MainPipe)

       mainTaskHost.Name = "Main Data Flow"

       ''

       ' Source Connection - Use this package's Connection Managers Connection called "LocalHost"

       '

       Dim LocalSrceAsConnectionManager = AddConnection(p, Dts.Connections("LocalHost"))

       '

       Dim sourceDBAsIDTSComponentMetaData100 = dataFlowTask.ComponentMetaDataCollection.New

       '  sourceDB.Name = "SourceDatabase"

       sourceDB.Name = "SourceDB"

       '    sourceDB.ComponentClassID = "DTSAdapter.OleDbSource"

       sourceDB.ComponentClassID = "{165A526D-D5DE-47FF-96A6-F8274C19826B}"       ' Ref: //msdn.microsoft.com/en-us/library/gg587414(v=sql.105).aspx

       '

       ' Initialise the component and assign connection manager

       '

       Dim sourceInstanceAsCManagedComponentWrapper = sourceDB.Instantiate

       sourceInstance.ProvideComponentProperties()

       sourceDB.RuntimeConnectionCollection(0).ConnectionManagerID = LocalSrce.ID

   EndSub

#Region"ScriptResults declaration"

   EnumScriptResults

       Success = Microsoft.SqlServer.Dts.Runtime.DTSExecResult.Success

       Failure = Microsoft.SqlServer.Dts.Runtime.DTSExecResult.Failure

   EndEnum

#EndRegion

EndClass

================== Script Code - End ==========================

The script fails on the following statement:

sourceInstance.ProvideComponentProperties()     

Failure:{"Exception from HRESULT: 0xC0048021"}

When drilling into the sourceInstance variable value the following error is seen:

{System.Reflection.TargetInvocationException: Exception has been thrown by the target of an invocation. ---> System.Runtime.InteropServices.COMException: The component is missing, not registered, not upgradeable, or missing required interfaces. The contact information for this component is "".

   --- End of inner exception stack trace ---

   at System.RuntimeType.InvokeDispMethod(String name, BindingFlags invokeAttr, Object target, Object[] args, Boolean[] byrefModifiers, Int32 culture, String[] namedParameters)

   at System.RuntimeType.InvokeMember(String name, BindingFlags bindingFlags, Binder binder, Object target, Object[] providedArgs, ParameterModifier[] modifiers, CultureInfo culture, String[] namedParams)

   at System.Dynamic.IDispatchComObject.GetMembers(IEnumerable`1 names)}

The References that are in place are:

Microsoft.SqlServer.DTSPipelineWrap

               C:\Windows\Microsoft.NET\assembly\GAC_MSIL\Microsoft.SqlServer.DTSPipelineWrap\v4.0_13.0.0.0__89845dcd8080cc91\Microsoft.SQLServer.DTSPipelineWrap.dll

Microsoft.SqlServer.ManagedDTS

               C:\Windows\Microsoft.Net\assembly\GAC_MSIL\Microsoft.SqlServer.ManagedDTS\v4.0_13.0.0.0__89845dcd8080cc91\Microsoft.SqlServer.ManagedDTS.dll

Microsoft.SqlServer.ScriptTask

               E:\Program Files (x86)\Microsoft SQL Server\130\DTS\Tasks\Microsoft.SqlServer.ScriptTask.dll

System

               C:\Program Files (x86)\Reference Assemblies\Microsoft\Framework\.NETFramework\v4.5\System.dll

System.Data

               C:\Program Files (x86)\Reference Assemblies\Microsoft\Framework\.NETFramework\v4.5\System.Data.dll

System.Windows.Forms             

               C:\Program Files (x86)\Reference Assemblies\Microsoft\Framework\.NETFramework\v4.5\System.Windows.Forms.dll

System.Xml

               C:\Program Files (x86)\Reference Assemblies\Microsoft\Framework\.NETFramework\v4.5\System.Xml.dll