4.—(1) Paragraph (2) applies where on or after the merger date an admission agreement fund for the admission bodies in the West Midlands Integrated Transport Authority Pension Fund is established under regulation 54 of the 2013 Regulations (admission agreement funds).
(2) Where this paragraph applies—
(a)a separate admission agreement fund must be established in respect of each admission body;
(b)the administering authority must comply with any directions issued by the Secretary of State in relation to the establishment, administration, or closure of these admission agreement funds.