Regulation 2 The Environment Agency

On the transfer of functions of the National Rivers Authority to the Environment Agency under section 2(1) of the Environment Act 1995, the Active Fund and the Closed Fund, together with all rights and liabilities in respect of them, shall vest in the Environment Agency which shall maintain them for the purposes of the principal Regulations.

Where the National Rivers Authority would have become liable, or would have been empowered, on the happening of an event, to make a payment out of the Active Fund or the Closed Fund or to take any other action as administering authority in respect of any person who has ceased to participate in the benefits of either of the Active Fund or the Closed Fund before 1st April 1996, then, on the happening of that event, such payment shall or, as the case may be, may be made by the Environment Agency out of the Active Fund or the Closed Fund as appropriate or such action shall or, as the case may be, may be taken by the Environment Agency.