(1)In exercising the functions conferred on it by or under this Act or any other enactment each residuary body shall comply with any directions given to it by the Secretary of State.
(2)Subsection (1) above does not apply to any functions of a residuary body under regulations made under section 7 of the M1Superannuation Act 1972; and no transaction entered into by a residuary body in the exercise of other functions shall be invalid by reason only of a failure to comply with any direction given under this section.
(3)The Secretary of State shall publish any directions given by him under this section.
Marginal Citations