PART IIIVESTING OF PROPERTY ETC. WHERE THERE IS MORE THAN ONE SUCCESSOR AUTHORITY
Transfers of residual property etc.11
1
This paragraph applies to—
a
property of an old authority consisting of cash or investments;
b
rights or liabilities of an old authority in respect of such property;
c
rights or liabilities of an old authority in respect of money borrowed by that authority; and
d
any other property, rights or liabilities of an old authority which are not vested by virtue of any other provision of this Part.
2
All the property, rights or liabilities to which paragraph (1) applies, shall, subject to articles 12, 13, 16, 17 and 19 to 22, vest in the designated authority.