4.  Section 127 of the Act shall apply in respect of any person employed immediately before 1st March 1995 by the Corporation to work solely at the institution conducted by the Corporation as if the references in that section—

(a) to the transfer date were to 1st March 1995;

(b) to the transferor authority were to the Corporation; and

(c) to the Corporation were to University College of Wales, Aberystwyth.