The Education (London Residuary Body) (Property Transfer) Order1992

General transfer of property other than land

6.—(1) Where an interest in land vests by virtue of article 3 in anycouncil, any property in or on the land, being property held by the LRBfor the purposes of any of its functions, shall vest in that council.

(2) Paragraph (1) applies—

(a) to property used or intended to be used exclusively for thedischarge of functions on any land, and which is kept elsewhere when notin use;

(b) to vehicles and other mobile equipment which are normally kept onany land; and

(c) to property which is normally kept in or on land and which isimmediately before the transfer date on loan from the LRB to anotherperson or body,

(3) The reference in paragraph (1) to the vesting of any property shallbe construed as including a reference to the vesting of rights andliabilities of the LRB in respect of any agreement for the hire or useby, or deposit with, the LRB of any such property.

(4) On the transfer date all records held by the LRB relatingexclusively to property transferred by this article shall vest in thecouncil to which such property is so transferred.

(5) Any vehicle licence, operator’s licence, road service licence,plating certificate or other document issued in respect of any vehiclethe property in which is transferred by this article shall have effectas if it had been issued to the council to whom property in such vehicleis transferred ( “the transferee”) and any reference to the LRB or the Inner London EducationAuthority in any registration book or other document issued in respectof such a vehicle shall have effect as a reference to the transferee.