Explanatory note

These Regulations prescribe the Residuary Body for Wales (Corff Gweddilliol Cymru) as a body to which Part IV of the Local Government and Housing Act 1989 applies (regulation 2); modify certain provisions of Part IV as they relate to the Residuary Body (regulation 3 and the Schedule); provide for sums received by the Residuary Body not to be capital receipts (regulation 4), and provide for any lease transferred to the Residuary Body from a former local authority, which would otherwise be a credit arrangement not to be a credit arrangement (regulation 5).