(1)Any assessor, not being an officer of Inland Revenue, and any officer of a local authority who, in consequence of any provision of this Act or of anything done thereunder, suffers direct pecuniary loss by reason of the determination of his appointment or the diminution of his emoluments or pension rights shall have the like right to compensation as if the loss were due to a transfer of functions under the Act of 1947 taking place on the sixteenth day of May, nineteen hundred and fifty-seven, and the provisions of subsections (2) to (6) of section three hundred and eighteen of, and of the Eleventh Schedule to, the said Act shall apply accordingly.
(2)Any property and any liabilities so far as held or incurred by or on behalf of the council of a large burgh, other than a county of a city, for the purposes of their functions relating to valuation or the registration of electors shall on the sixteenth day of May, nineteen hundred and fifty-seven, be transferred to and vest in the council of the county in which such burgh is situated, and the provisions of section three hundred and seventeen of, and of the Tenth Schedule to, the Act of 1947 shall apply in relation to the transfer of such property and liabilities in like manner as if such transfer were effected by the said Act.