Article 6 Transfer of rights and liabilities

(1)

On the transfer date all rights and liabilities of the Residuary Body other than those mentioned in paragraph (2) shall vest in Stockport; but shall be held for the benefit of, or discharged on behalf of, all the local councils.

(2)

The rights and liabilities excluded from transfer by paragraph (1) are those—

(a)

in respect of the Midland Hotel site, Manchester or in connection with immovable property which is excluded from transfer by virtue of article 2(1)(a);

(b)

transferred by any other article of this Order;

(c)

relating to grant from the European Commission, or from the Exchequer under section 1 of the Local Government Grants (Social Need) Act 1969^f1 or section 1 of the Derelict Land Act 1982^f2;

(d)

connected with any function which is exercisable after the transfer date by the Residuary Body; and

(e)

relating to any contract connected with the occupation of offices by the Residuary Body.

Annotations

Footnotes

f1: 1969 c. 2.
f2: 1982 c. 42.