48.—(1) As from the transfer date, every person employed by the Authority in connection with the Authority’s postal undertaking immediately before that date (other than the excepted postal employees) shall be transferred to the service of the postal successor company on terms no less favourable than those enjoyed by him immediately prior to his transfer.
(2) In this Act, “excepted postal employees” means any officer or employee which the Authority may specify as necessary or expedient to be retained by the Authority for the exercise of its duties and functions relating to postal matters under this Act and any other officer or employee who is not transferred to the postal successor company on the transfer date by virtue of section 38(1) as made applicable by section 49.