41.— (1) With effect from the dissolution day, the Authority shall carry out the principal function of the Commission and shall seek to achieve the objectives of the Commission as set out in section 9 of the Act of 2003.

(2) The powers, functions and duties of the Commission set out in the Act of 2003 are with effect from the dissolution day conferred on the Authority.

(3) (a) Subject to paragraph (b) and section 40 (3), the exercise of the Authority’s regulatory functions under the Act of 2003 shall be carried out by the person holding the post of Commissioner for Taxi Regulation or any renamed post arising from the provisions of section 40 (3).

(b) The Authority may designate another member of staff of the Authority to exercise its regulatory functions under the Act of 2003.