(1) Subject to article 4 of this Order, there shall be transferred to and vest in the Assembly all property, rights and liabilities to which the Secretary of State for Wales is entitled or subject, at the coming into force of this Order, in connection with the exercise before that date of any of his functions to which article 2 of this Order applies.
(2) There may be continued by or in relation to the Assembly anything (including legal proceedings) which relates to any property, rights or liabilities transferred by paragraph (1), and which is in the process of being done by or in relation to the Secretary of State for Wales immediately before the coming into force of this Order.
(3) Anything which was done by the Secretary of State for Wales for the purpose of or in connection with any property, rights or liabilities transferred by paragraph (1), and which is in effect immediately before the coming into force of this Order shall have effect as if done by the Assembly.
(4) The Assembly shall be substituted for the Secretary of State for Wales in any instruments, contracts or legal proceedings which relate to any property, rights or liabilities transferred by paragraph (1), and which are made or commenced before the coming into force of this Order.