40(1)The Secretary of State may by regulations—U.K.
(a)remove functions of the IMA, if it appears to the Secretary of State that, in accordance with Article 159(3) of the withdrawal agreement or Article 64(4) of the EEA EFTA separation agreement, it is no longer necessary for the IMA to continue to exercise those functions, or
(b)abolish the IMA, if it appears to the Secretary of State that, in accordance with Article 159(3) of the withdrawal agreement and Article 64(4) of the EEA EFTA separation agreement, it is no longer necessary for the IMA to continue to exist.
(2)Regulations under sub-paragraph (1) may include provision transferring the IMA's property, rights and liabilities (including rights and liabilities in respect of contracts of employment).
(3)The power to make regulations under sub-paragraph (1) may (among other things) be exercised by modifying any provision made by or under an enactment (including this Act).
Commencement Information
I1Sch. 2 para. 40 in force at 31.12.2020 by S.I. 2020/1622, reg. 5(h)