Paragraph 3

for subsection (7) there shall be substituted the following subsection:—

“(7)

The substitution effected by the foregoing provisions of this section of a body comprised in the new TSB group for a body comprised in the existing TSB group as employer under contracts of employment subsisting immediately before the vesting day shall have effect so that a period of employment subsisting immediately before the vesting day with a body comprised in the existing TSB group shall count for the purposes of the Contracts of Employment Act 1981 (an Act of Tynwald) as a period of employment with the successor to such body, and the change of employer shall not break the continuity of the period of employment.”

subsection (10) shall be omitted.