11. On 30th March 1990 the Residuary Body shall be wound up and on that date—
(a)such of its remaining functions, rights and liabilities as relate to any contract of employment with the Residuary Body shall transfer to and vest in Wirral; and
(b)any other remaining functions, property, rights and liabilities shall vest in Liverpool and be held by that council for the benefit of all the local councils or discharged by that council on their behalf, as the case may be.