Article 5 General transfer of property, rights and liabilities to the new authorities

Subject to the provisions of this order, all property held, or used otherwise than temporarily, and rights or liabilities acquired or incurred, by an abolished council exclusively for or in connection with the purposes of statutory functions which by virtue of any provision made by or under the principal Act become functions of a new authority shall vest in the appropriate new authority.

In this article “appropriate new authority” means the new authority established under Part III or IV of the principal Act in the area of the abolished council to discharge the statutory functions in question.