2. It is directed that on the transfer date—
(a)the property of the Corporation shall vest in the Commission for the New Towns; and
(b)the Corporation shall cease to act except for the purposes of carrying out its functions under sections 67(1), 68 and 70 of the Act (annual accounts of development corporation, audit and reports), and taking such other steps as are necessary to wind up its affairs.
(1)
Section 67 was amended by the New Towns and Urban Development Corporations Act 1985 (c. 5).