(1) The administration and business in connection with the exercise, performance or execution of any of the functions transferred by subsection (2) are hereby transferred, on the establishment day, to the Commission.

(2) There are hereby transferred, on the establishment day, to the Commission the functions vested in the Minister by or under each of the following -

(a) the Transport (Tour Operators and Travel Agents) Act, 1982,

(b) the Package Holidays and Travel Trade Act, 1995,

(c) the European Communities (Access to the groundhandling market at Community airports) Regulations, 1998 (S.I. No. 505 of 1998), and

(d) [deleted]

(3) References to the Minister contained in any Act or instrument relating to any functions transferred by subsection (2) shall, on the establishment day, be construed as references to the Commission.