The London Residuary Body (Transfer of Property etc) Order 1990

Rights and liabilities

12.—(1) On the transfer date all rights and liabilities of the Residuary Body in relation to the following shall vest in Bromley–

(a) any debt which is subject to an arrangement for its payment in instalments where the final instalment falls to be paid after 29th March 1990;

(b) any unsecured and non-preferential debts where the debtor has become subject to a bankruptcy order or individual voluntary arrangement or the appointment of a receiver or liquidator and in respect of which the trustee in bankruptcy or supervisor or receiver or liquidator has not indicated or is not in a position to indicate that there is unlikely to be any money available for distribution to unsecured or non-preferential creditors;

(c) any guarantee entered into by the abolished council under section 119(3)(c) of the Housing Act 1957(1);

(d) any agreement made between the abolished council and a local council under which the abolished council made a grant to that council; and

(e) any agreement made between the abolished council and the bodies specified in Schedule 6 to this Order under which the abolished council provided assistance by way of a grant for the purchase, conversion or improvement of property outside the area of Greater London, or for the construction, overhaul or fitting out of a vessel.

(2) For the purposes of paragraph (1)(a) “debt” does not include debt in respect of borrowed money.

(3) On the transfer date all rights and liabilities of the Residuary Body in respect of or in connection with work carried out by the abolished council under the Thames Barrier and Flood Prevention Act 1972(2) (“the 1972 Act”) and the Land Drainage Act 1976(3) (“the 1976 Act”) shall vest in the National Rivers Authority, save that any outstanding sums in respect of grants made to the abolished council under section 91 of the 1976 Act pursuant to section 42 of the 1972 Act shall be paid to the Residuary Body.

(4) Where the abolished council or its predecessors or, prior to the transfer date, the Residuary Body, have entered into any covenant affecting land with a local council, a county council, a district council or the Common Council, the benefit or the burden of that covenant, as the case may be, shall vest in Bromley.

(5) On the transfer date all rights and liabilities of the Residuary Body arising from or connected with the matters specified in Column 1 of Schedule 7 to this Order shall vest in the authority specified in Column 2.

(6) Subject to the preceding provisions of this Order and to paragraph (7), all other rights and liabilities of the Residuary Body in relation to land shall vest in the local council, or, if such property is situated in their area, in the Common Council, or the district council.

(7) Nothing in this article shall transfer any rights and liabilities of the Residuary Body–

(a) in respect of the land described in Schedule 3 to this Order;

(b) in relation to land adjoining 35 Cremer Street, Shoreditch, Hackney, London E2;

(c) in any proceedings other than those specified in Column 1 of Part I of Schedule 5 to this Order;

(d) referred to in article 9(2) of the London Government Reorganisation (Property etc) (No. 2) Order 1989; or

(e) in respect of debts owed by or to the Residuary Body to or by any of the following companies in liquidation–

• Keith Andrews and Company (London) Limited;

• M.J. Shanley (Contracting) Limited;

• M.C. Swindon Realisations Limited (formerly Mears Construction Limited);

• St. Mary’s Landscape Limited;

• J. and W. Mayer Limited; and

• W.J. Simms Sons and Cooke (Southern) Limited.

(1)

1957 c. 56. This Act was repealed by the Housing (Consequential Provisions) Act 1985 (c. 71), section 3.

(2)

1972 c.xlv.

(3)

1976 c. 70.