2. The Residuary Body is hereby prescribed for the purposes of section 39(1)(k) of the 1989 Act as an authority with respect to whose finances Part IV of that Act has effect(1).
Bodies which may be prescribed by regulations under Section 39(3) of the 1989 Act include (by virtue of section 39(3)(a)) any body which is a levying body within the meaning of section 74 of the Local Government Finance Act 1988. The Residuary Body is treated as a levying body for the purposes of section 74 of the Local Government Finance Act 1988 by virtue of paragraph 14 of Schedule 13 to the Local Government (Wales) Act 1994.