What is this Unit Attached to my 700R4

This piece of hardware is attache to the driver's side of the 700R4 tranny between the speedo gear housing & the tail extension. It is leaking
What is it & its purpose?

 

That trans must be from an F-car. Thats the mount for the torque arm. You can discard it.

 

Another option is to replace the tail housing to a regular one with no mounting holes to attach the torque bar mount.

 

My guess is that its on his 84 trans am. I see a torque arm in it. I have never seen an extension housing leak there. I would look at the rear seal or the speedo cable to see if it is coming from there.

 

Those mounting holes are blind. That leak must be landing there from somewhere else.