5.—(1) All the functions of the Residuary Body in relation to any contract of employment with the Residuary Body terminating on or before the transfer date, and all rights and liabilities of that Body which arise from any such contract shall on the transfer date become functions of, or vest in, Tameside.
(2) Without prejudice to the generality of paragraph (1) the functions of the Residuary Body conferred by regulation 3(1) of the Local Government Superannuation (Miscellaneous Provisions) Regulations 1986(1) shall vest in Tameside.
(3) All the functions of the Residuary Body under the Pensions (Increase) Act 1971(2) shall on the transfer date become functions of Tameside.
(4) Regulation 3(3) of the Regulations mentioned in paragraph (2) above shall apply to the exercise by Tameside of any discretionary function transferred by paragraph (1) as if references to the appropriate residuary body were references to that council.
S.I. 1986/380.