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(3) If the new owner offers to renew the
employee's contract of employment (with the
substitution of the new owner for the previous
owner) or to re-engage him under a new contract
of employment, but the employee refuses the
offer, subsection (2) or (3) of section 20D
(as the case may be) shall have effect, subject
to subsection (4), in relation to that offer
and refusal as it would have had effect in
relation to the like offer made by the previous
owner and a refusal of that offer by the
employee.
(4) For the purposes of the operation, in· accordance with subsection (3), of subsection (2)
or (3) of section 20D in relation to an offer
made by the new owner
(a) the offer shall not be treated as one
whereby the provisions of the contract
as renewed, or of the new contract,
as the case may be, would differ from
the corresponding provisions of the
contract as in force immediately
before the dismissal by reason only
that the new owner would be substituted
for the previous owner as the employer;
and