Transitory provision: first financial year
4.—(1) For the purposes of sections 19 and 20 of the Act, the first financial year of the Commission is the period beginning with 1st November 2016 and ending with 31st March 2018.
(2) For the purposes of section 20(1)(a) and (3) of the Act and the first financial year, the functions referred to in those provisions are to be read as if they referred to—
(a)in respect of the period beginning with 1st November 2016 and ending with 31st March 2017, the functions referred to in regulation 3(2) and(3); and
(b)in respect of the period beginning with 1st April 2017 and ending with 31st March 2018, the functions referred to in sections 6, 22 and 24 of the Act.