Article 7 Transfers of property other than land
(1)
Where, by virtue of article 6, land vests in a new authority, any property in or on that land, being property held by the old authority in whom the land was vested shall, subject to articles 11, 16, 17, 20 and 21, vest in the new authority in whom that land is vested.
(2)
The expression “property in or on that land” shall include—
(a)
vehicles and moveable property which are normally kept in or on such land when not in use, and
(b)
records.
(3)
Where, by virtue of section 263 of the Highways Act 1980, a highway vests in a new authority, any street furniture or equipment, including any signs or lighting systems of an old authority located in or near that highway, not being property transferred by virtue of paragraph (1), shall vest in the new authority.