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(a)
a change occurs (whether by virtue of
a sale or other disposition or by
operation of law) in the ownership
of a business for the purposes of
which a person is employed, or of a
part of such a business; and
(b) in connexion with that change the
person by whom the employee is employed
immediately before the change occurs
(in this section referred to as "the
previous owner") terminates the
employee's contract in accordance
with section 5 or 6.
(2) If, by agreement with the employee,
the person who immediately after the change
occurs is the owner of the business or of the
part of the business in question, as the case may be (in this section referred to as "the new owner") renews the employee's contract
of employment (with the substitution of the new owner for the previous owner) or re-engages
him under a new contract of employment, subsection (2) of section 20E shall have effect
as if the renewal or re-engagement had been a
renewal or re-engagement by the previous ne
owner
(without any substitution of the new owner for
the previous owner).