3.—(1) On the commencement date all property, rights and liabilities which the Corporation has in relation to the contracts of employment of the transferring employees are transferred to the GLA.
(2) The transfer by virtue of paragraph (1) is to be treated as a relevant transfer for the purposes of the Transfer of Undertakings (Protection of Employment) Regulations 2006(1).
(3) Paragraph (1) does not affect the operation of those Regulations in relation to that transfer.