(1)The [1979 c. 12.] Wages Councils Act 1979 shall cease to have effect, but, subject to the following provisions of this Part—
(a)any council in existence immediately before the commencement of this section by virtue of an order made or having effect as if made under section 1 of that Act (establishment of wages councils) shall continue in existence; and
(b)any order made or having effect as if made under that section or under section 4 of that Act (variation of field of operation of wages councils) and then in force in relation to that council shall continue in force;
and in this Part (except where the context requires otherwise) " wages council " means such a council as is mentioned in paragraph (a).
(2)Subject to the following provisions of this Part, there shall be exercisable by such a council, in relation to the workers and employers within its scope of operation by virtue of subsection (1), the functions conferred on wages councils by this Part.
(3)A wages council shall not, however, exercise any functions under this Part in relation to workers under the age of 21.
(4)Schedule 2 shall have effect with respect to the constitution, proceedings and officers of a wages council.