3.—(1) The Residuary Body’s interests in the Central Station Site, Manchester, registered at Her Majesty’s Land Registry under Title numbers GM161103 and GM265086, shall vest jointly in Manchester, Oldham, Stockport and Wigan as trustees for all the local councils.
(2) All rights and liabilities of the Residuary Body acquired or incurred in connection with, and all records relating exclusively to property transferred by paragraph (1) shall vest jointly in all the local councils.
(3) The Residuary Body’s beneficial interest in the share capital of Modesole Limited shall vest in the local councils, and each local council shall receive the number of shares shown against its name in the Schedule to this Order.
(4) Any sums received or payments due in consequence of the provisions of paragraph (1) and (2) shall be distributed among or discharged by the local councils in the appropriate proportions.