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5.—(1) There shall be transferred to and vest in the Welsh Ministers by virtue of this paragraph all property, rights and liabilities to which the Secretary of State is entitled or subject, at the coming into force of these Regulations, in connection with any function exercisable by the Secretary of State which is made exercisable by the Welsh Ministers by these Regulations.
(2) There may be continued by or in relation to the Welsh Ministers anything (including legal proceedings) which relates to—
(a)any function exercisable by the Secretary of State which is made exercisable by the Welsh Ministers by these regulations, or
(b)any property, rights or liabilities transferred by paragraph (1) as the result of any such function being made so exercisable,
and which is in the process of being done by or in relation to the Secretary of State immediately before these Regulations come into force.
(3) Anything which was done by or on behalf of the Secretary of State for the purpose of or in connection with—
(a)any function exercisable by the Secretary of State which is made exercisable by the Welsh Ministers by these Regulations, or
(b)any property, rights or liabilities transferred by paragraph (1) as the result of any such action being made exercisable by the Welsh Ministers by these Regulations,
and which is in effect immediately before these Regulations come into force shall have effect as if done by the Welsh Ministers on their own behalf.
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