In the construction and for the purposes of any judgment, decree, order, award, deed, contract, bond, agreement, regulation, rule, bye-law, certificate or other document made before the date of a transfer under paragraph (1) any reference to or which is to be construed as a reference to the Holding Company shall, so far only as may be necessary for the purpose or in consequence of the transfer, be construed as a reference to the subsidiary company.

The transfer shall not affect any order, regulation, rule, direction, instruction, approval, requirement or authorisation made or given or other thing done by the Belfast Corporation before 2nd April 1973 or by the Holding Company before the date of a transfer under paragraph (1), but any such matter shall so far as it relates to functions transferred under paragraph (1) and if in force immediately before the date of the transfer continue in force to the like extent and subject to the like provisions as if it had been duly made, given or done by the subsidiary company.

Anything commenced before 2nd April 1973 by or under the authority of the Belfast Corporation or before the date of a transfer under paragraph (1) by the Holding Company may so far as it relates to any functions transferred be carried on or completed by or under the authority of the subsidiary company.

Any investigation, legal proceedings or remedy under any transferred provision in respect of any rights or liabilities transferred to the subsidiary company may be instituted, continued or enforced by or against the subsidiary company under the powers and provisions applicable thereto immediately before the date of the transfer.

Any question whether assets or liabilities are held, enjoyed or incurred before the date of the transfer by the Holding Company in connection with the functions transferred to the subsidiary company under paragraph (1) shall be determined by the Department and a certificate of the Holding Company that any assets or liabilities so held, enjoyed or incurred have been so transferred shall be conclusive evidence of such transfer.

Any question as to whether an officer or servant is or was employed wholly or mainly in the discharge of functions transferred under paragraph (1) or whether the duties of a transferred officer or servant are reasonably comparable or whether terms and conditions taken as a whole are less favourable shall be reported by the Holding Company or by such officer or servant to the Department of Manpower Services, and, if a dispute so reported is not otherwise disposed of, that Department shall refer it for determination by a tribunal appointed for the purpose. The statement of new terms and conditions of employment shall contain information that any question shall be so determined and as to the person and address to whom any question should be reported.

The Department may, with the approval of the Department of the Civil Service make regulations, subject to negative resolution, providing for the payment by the Department, on such terms and subject to such conditions as may be specified in the regulations, of compensation to, or in respect of, any person who suffers subsequent to his transfer loss of employment or loss or diminution of emoluments (including superannuation rights) which is attributable to any provision of this Article or who on grounds which the Department considers reasonable is unable or unwilling to accept employment with a subsidiary company to which he has been transferred.