Powers or functions are transferred to a regional or local level. However, in legal terms those powers or functions have only been lent to the region and may taken back by the central administration.
Powers or functions are ceded for all time (pending constitutional amendment) to a regional or local level. They are separate from the central administration's powers or functions and are protected from being taken or used by the central administration.
The Act established the National Assembly for Wales, a directly elected body with executive powers.
The Act established that the Assembly can pass primary legislation, Assembly Measures, provided that it has the legislative competence to do so.
The Act includes provisions that devolve tax raising powers to the Welsh Assembly in the event of a successful referendum of the Welsh to agree their devolution.
"Transferred" subjects are all subjects that have not been otherwise "reserved" or "excepted". They have been transferred to the Northern Ireland Assembly who may enact primary legislation on these areas.
"Reserved" subjects are set out in Schedule 3 of the Act and may be transferred from the UK Parliament to the Northern Ireland Assembly by Order once there is cross-community consent for that transfer.
"Excepted" subjects are set out in Schedule 2 of the Act and remain with the UK Parliament unless an amendment is made to the Northern Ireland Act to that effect.