Paschal Mooney (Fianna Fail)

I seek clarification of the Schedule of the Bill under the heading

2. In the Implementation Bodies Agreement:

(b) any reference to the Assembly shall be read as a reference to the United Kingdom Parliament.

Does it suggest that if the Executive is not restored all the powers contained in the Implementation Agreement will revert to the Parliament of the United Kingdom? It would be useful if the Minister of State could clarify this point.