40.— (1) Subject to subsections (3) and (4), the person who, immediately before the dissolution day, was serving in the post of Commissioner for Taxi Regulation under section 14 of the Act of 2003, is entitled, while in the employment of the Authority, to terms and conditions of employment no less favourable than those to which the person was entitled immediately before the dissolution day.

(2) (a) The person referred to in subsection (1) and transferred to the Authority under section 39, whose term of office expires by effluxion of time, shall be eligible for re-appointment to serve a second term of appointment in accordance with section 14(6) of the Act of 2003 (subject to a limit of serving no more than 10 years in total in the post of Commissioner for Taxi Regulation).

(b) Any future re-appointment arising under paragraph (a) shall be on terms and conditions of employment no less favourable than those to which the person was entitled during the first term of appointment.

(3) (a) Subject to paragraph (b), the person referred to in subsection (1) and transferred to the Authority shall retain the title of Commissioner for Taxi Regulation on a personal basis.

(b) The Authority may, in consultation with the Commissioner for Taxi Regulation if a person holds that post, decide to change the title and the functions of the post of Commissioner for Taxi Regulation either in the immediate term or at some future date.

(4) Appointments to the post of Commissioner for Taxi Regulation or any renamed post arising from subsection (3) (b) will be made by the Authority, and on such terms and conditions, including remuneration, as the Authority may determine with the consent of the Minister and the Minister for Finance.

(5) Notwithstanding the repeal by section 42 (3) of sections 14(6), 16 and 17 of the Act of 2003, those sections continue in force and effect in respect of the person referred to in subsection (1) and transferred to the Authority under section 39, subject to references in those sections to the Commission and the Minister respectively being replaced by a reference to the Authority.

(6) (a) The provisions of section 21(7) and (8) of the Act of 2008 apply in relation to terms and conditions governing superannuation benefits granted under schemes made under section 21 of the Act of 2008 to the person referred to in subsection (1).

(b) The terms and conditions governing superannuation benefits granted to the person referred to in subsection (1) shall not be less favourable than those to which the person was entitled immediately before the dissolution day arising from a scheme prepared in accordance with section 23 of the Act of 2003, including such a scheme that is being implemented on an administrative basis, immediately before the dissolution day.