The Secretary of State may pay—
to the person who immediately before the appointed day is the chairman of the National Gas Consumers' Council; and
to the persons who immediately before that day are the chairmen of the Regional Gas Consumers' Councils,
such sums by way of compensation for loss of office or loss or diminution of pension rights as the Secretary of State may with the approval of the Treasury determine.
The Secretary of State may also pay to persons who immediately before the appointed day were officers of any of the Councils mentioned in subsection (1) above such sums by way of compensation for loss of employment, or loss or diminution of remuneration or pension rights, as the Secretary of State may with the approval of the Treasury determine.
Any sums required by the Secretary of State for the purposes of this section shall be paid out of money provided by Parliament.