Regulation 4 Amendment of the Local Government (Structural Changes) (Transfer of Functions, Property, Rights and Liabilities) Regulations 2008

in paragraph (v) omit “or”;

in paragraph (vi) for “and” substitute “or”; and

after paragraph (vi) insert—

“(vii)

regulations under section 3 of the Public Service Pensions Act 2013^f2 (scheme regulations); and”.

in paragraph (1) after “financial reserves” insert “, or such proportion of the financial reserves as may be agreed between the successor councils,”;

after paragraph (1) insert—

“(1A)

Where an agreement has been made between the successor councils under paragraph (1) above for a proportion of the financial reserves to vest in the nominated council on trust, the remainder of the financial reserves shall transfer to the successor councils on the reorganisation date in such proportions as may be agreed between those councils.”; and

in paragraph (2) after “financial reserves” insert “, or such proportion of the financial reserves as are held on trust by agreement between the successor councils under paragraph (1),”.