40.—(1) The Minister may designate such and so many members of the staff of An Foras as he or she may decide to be transferred to Forfás.

(2) A member of the staff of An Foras designated under subsection (1) shall be transferred to and become a member of the staff of Forfás.

(3) Save in accordance with a collective agreement negotiated with any recognised trade unions and staff associations concerned, a member of the staff of An Foras transferred to the staff of Forfás under subsection (2), shall not, while he or she is in the service of Forfás, receive a lesser scale of pay or be made subject to less beneficial terms and conditions of service (including those relating to tenure of office) than the scale of pay to which he or she was entitled and the terms and conditions of service (including those relating to tenure of office) to which he or she was subject immediately before his or her transfer.

(4) Superannuation benefits granted under schemes to persons who were members of the staff of An Foras who are transferred to and become members of the staff of Forfás shall continue as if granted under paragraph 3 of the Second Schedule to the Act of 1993 and the terms and conditions relating to those benefits shall not be less favourable to those persons than those to which they were entitled before their transfer.

(5) This section shall come into operation on such day as the Minister may appoint by order.