Help with understanding renunciation of contract

Support Contracts
1

Hi there,

I am trying to ascertain whether my contract has actually been renounced by the original developer.

Contract Source

 /**
372        * @dev Initializes the contract setting the deployer as the initial owner.
373        */
374        constructor () internal {
375            address msgSender = _msgSender();
376            _owner = msgSender;
377            emit OwnershipTransferred(address(0), msgSender);
378        }
379380        /**
381        * @dev Returns the address of the current owner.
382        */
383        function owner() public view returns (address) {
384            return _owner;
385        }
386387        /**
388        * @dev Throws if called by any account other than the owner.
389        */
390        modifier onlyOwner() {
391            require(_owner == _msgSender(), "Ownable: caller is not the owner");
392            _;
393        }
394395        /**
396        * @dev Leaves the contract without owner. It will not be possible to call
397        * `onlyOwner` functions anymore. Can only be called by the current owner.
398        *
399        * NOTE: Renouncing ownership will leave the contract without an owner,
400        * thereby removing any functionality that is only available to the owner.
401        */
402        function renounceOwnership() public virtual onlyOwner {
403            emit OwnershipTransferred(_owner, address(0));
404            _owner = address(0);
405        }
406407        /**
408        * @dev Transfers ownership of the contract to a new account (`newOwner`).
409        * Can only be called by the current owner.
410        */
411        function transferOwnership(address newOwner) public virtual onlyOwner {
412            require(newOwner != address(0), "Ownable: new owner is the zero address");
413            emit OwnershipTransferred(_owner, newOwner);
414            _owner = newOwner;

Does this mean that ownership is fully renounced and that no further functions can be called now that _owner = address(0) and _owner = newOwner. I assume that this now makes newOwner = address(0)

can anyone kindly explain these lines to me:

411 function transferOwnership(address newOwner) public virtual onlyOwner {
412 require(newOwner != address(0), “Ownable: new owner is the zero address”);
413 emit OwnershipTransferred(_owner, newOwner);
414 _owner = newOwner;

I would appreciate any assistance

Many thanks