164Extension of functions of London Residuary Body
(1)For the purpose of enabling it to discharge the functions conferred or imposed on it by or under the following provisions of this Part in connection with the abolition of ILEA, the London Residuary Body shall not be required in accordance with section 67 of the 1985 Act to submit to the Secretary of State a scheme for its winding up, but shall, subject to the provisions of this Part, continue in existence notwithstanding the completion of its work under that Act and the disposal of any of its functions, property, rights and liabilities to which that section applies.
(2)That section shall apply in relation to the London Residuary Body with the following modifications—
(a)references to its functions and work shall not apply to its functions and work under this Part;
(b)references to property, rights and liabilities shall not apply to property, rights and liabilities transferred to it, or held, acquired or incurred by it by virtue of, or in the exercise of any of its functions under, this Part; and
(c)in subsection (1)(b) the words “the winding up of the residuary body and” shall be omitted.
(3)In this Part “the 1985 Act” means the [1985 c. 51.] Local Government Act 1985.