Section 1(5).
1(1)Any agreement made, transaction effected or other thing done by, to or in relation to the Crown Agents which is in force or effective immediately before the appointed day shall have effect as from that day as if made, effected or done by, to or in relation to the successor company, in all respects as if the successor company were the same person, in law, as the Crown Agents.
(2)Accordingly, references to the Crown Agents —
(a)in any agreement (whether or not in writing) and in any deed, bond or instrument,
(b)in any process or other document issued, prepared or employed for the purpose of any proceeding before any court or other tribunal or authority, and
(c)in any other document whatever (other than an enactment) relating to or affecting any property, right or liability of the Crown Agents which vests by virtue of section 1 in the successor company,
shall be taken as from the appointed day as referring to the successor company.
2Where immediately before the appointed day there is in force an agreement which —
(a)confers or imposes on the Crown Agents any rights or liabilities which vest in the successor company by virtue of section 1, and
(b)refers (in whatever terms and whether expressly or by implication) to a member or officer of the Crown Agents,
the agreement shall have effect, in relation to anything falling to be done on or after that day, as if for that reference there were substituted a reference to such person as that company may appoint or, in default of appointment, to the officer of that company who corresponds as nearly as may be to the member or officer of the Crown Agents in question.
3(1)The effect of section 1 in relation to any contract of employment with the Crown Agents in force immediately before the appointed day is merely to modify the contract (as from that day) by substituting the successor company as the employer (and not to terminate the contract or vary it in any other way).
(2)Nothing in this Act affects the operation of the [S.I. 1981/1794.] Transfer of Undertakings (Protection of Employment) Regulations 1981 in relation to the transfer of the undertaking of the Crown Agents to the successor company by virtue of section 1; and the Secretary of State shall before appointing a day under section 1(1) give to the Crown Agents such notice of his proposals as he considers appropriate for enabling any provisions of those regulations applicable to the transfer to be complied with.
4(1)Section 1 is effective to vest the rights and liabilities of the Crown Agents under any agreement or arrangement for the payment of pensions, allowances or gratuities in the successor company along with all other rights and liabilities of the Crown Agents.
(2)Accordingly, for the purposes of any such agreement or arrangement as it has effect as from the appointed day—
(a)any period of employment with the Crown Agents or with a subsidiary of the Crown Agents, and
(b)any period of employment which would, immediately before that day, have been treated as such employment for the purposes of any such agreement or arrangement,
shall count as employment with the successor company or (as the case may be) with a subsidiary of that company.