(1)Subject to subsection (4) of this section, the Minister may by order—
(a)transfer from one to another of the Executive and their wholly-owned subsidiaries, or from, or from a wholly-owned subsidiary of, one to, or to such a subsidiary of, the other of—
(i)the Executive and the Railways Board ; or
(ii)the Executive and the Bus Company,
any functions of, or of that subsidiary of, the Executive, that Board or that Company, as the case may be, being functions in connection with the carriage of passengers, and for that purpose amend any of the enactments relating to those functions ;
(b)make any such provision with respect to, or to any wholly-owned subsidiary of, the authority or either of the authorities in question as is mentioned in section 21(1) of this Act,
and any such order shall make provision for the protection of the interests of persons transferred by or under the order from one employment to another and may contain such supplementary, incidental and consequential provision as may appear to the Minister to be necessary or expedient.
(2)Subject to subsection (3) of this section, in the case of an order under subsection (1) of this section making such provision as is mentioned in section 21(1) of this Act, the property, rights and liabilities in question shall on such date as may be appointed for the purpose by the order be transferred, and by virtue of this Act vest, in accordance with the order.
(3)Schedule 4 to the Act of 1968 shall apply to any transfer under subsection (2) of this section and shall so apply as if for any reference in that Schedule to that Act (otherwise than in a reference to a particular provision of that Act) there were substituted a reference to this Act, and that subsection shall have effect subject to the provisions of that Schedule.
(4)The power to make orders under this section shall not be exercisable so as to cause all or substantially all of the functions of the Executive to become functions of, or of wholly-owned subsidiaries of, the Railways Board and the Bus Company ; and before making any order under this section the Minister shall consult with the Council, the Executive, the Railways Board or, as the case may be, the Bus Company, and such other persons, if any, as the Minister may think fit, and lay a draft of the proposed order before each House of Parliament; and the order shall not be made unless that draft has been approved by resolution of each House of Parliament.