(1) Subject to this section, Part 2 has effect only for the period of 3 years from the commencement of this Act.

(2) The Minister may, by order made before the expiration of the period mentioned in subsection (1) or of any extension of that period under this subsection, extend that period or periods for a further period of 3 years if -

(a) both the Irish Congress of Trade Unions and the Irish Business and Employers Confederation have requested the extension; and

(b) the Minister is satisfied that the continued operation of Part 2 would be conducive to the continued orderly conduct of industrial relations.

(3) If -

(a) on any day, Part 2 ceases to have effect in accordance with subsection (1), and

(b) on that day, any action remains to be taken under that Part in relation to a redundancy proposal in respect of which action had commenced to be taken under that Part,