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(1)Any function falling within subsection (1)(a) or (c) of section 2 above which is a power to make subordinate legislation may be exercised by the Treasury or, as the case may be, the Board at any time after the passing of this Act if the subordinate legislation made in the exercise of the power comes into force after the commencement of that section.
(2)Nothing in section 2 above affects the validity of anything done by or in relation to the Secretary of State or the Department before the commencement of that section; and anything which at that date is in the process of being done by or in relation to the Secretary of State or the Department may—
(a)if it relates to functions transferred by subsection (1) of section 2 above to the Treasury, be continued by or in relation to the Treasury;
(b)if it relates to functions transferred by that subsection to the Board or an officer of the Board, be continued by the Board or, as the case may be, an officer of the Board.
(3)Any authority, appointment, decision, determination, approval, consent or direction given or made or other thing done, or having effect as if given, made or done, by the Secretary of State or the Department in connection with functions transferred by subsection (1) of section 2 above shall have effect as if given, made or done by the Treasury or, as the case requires, the Board or an officer of the Board in so far as that is required for continuing its effect after the commencement of that section.
(4)The enactments specified in Schedule 6 to this Act are repealed to the extent specified in the third column of that Schedule.
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