(1)On such day as the Secretary of State may by order appoint the Pilotage Commission shall cease to exist and the Commission shall use its best endeavours to secure that its work is completed by that day.
(2)No later than six months before the day appointed under subsection (1) above the Pilotage Commission shall submit to the Secretary of State a scheme for the winding-up of the Commission and the disposal of the property, rights and liabilities of the Commission and the arrangements to be made as respects its staff, including in particular proposals concerning the payment of pensions in respect of staff or former staff and any compensation to be paid to staff for loss of employment; but the scheme shall not affect any person's right to compensation otherwise than under the scheme.
(3)The Secretary of State shall by order provide for the transfer of the property, rights and liabilities of the Pilotage Commission and the arrangements to be made as respects any staff of the Commission in accordance with the scheme (with or without modifications).