# The West Midlands Residuary Body (Winding Up) Order 1991, Article 2: Transfer of property, etc.


(1) On transfer date all interests of the Residuary Body in—
(a) land which is the subject of an agreement for its disposal or option for its purchase shall transfer to vest in Birmingham;
(b) any other land situated in the county shall transfer to and vest in the local council;
(c) holding 125 Bangley Lane, Canwell, Staffordshire forming part of title numbers SF47512 and SF162639 registered at Her Majesty’s Land Registry shall transfer to and vest in the council of the county of Staffordshire (“Staffordshire”);
(d) holding 163 Drayton Lane, Drayton Bassett, Canwell, Staffordshire, forming part of title numbers SFP160925 and SF162639 registered at Her Majesty’s Land Registry shall transfer to and vest in Staffordshire; and
(e) any other land situated outside the county shall transfer to and vest in Birmingham.
(2) Subject to paragraph (3), all rights and liabilities of the Residuary Body acquired or incurred in connection with, and all records relating exclusively to, land or interests in land transferred by paragraph (1) shall vest in the council to which it is so transferred.
(3) Where prior to the transfer date the Residuary Body has disposed of any land subject toa covenant that the Residuary Body shall receive a proportion of any subsequent increased development value, the benefit of that covenant shall vest in Birmingham.
(4) Subject to paragraph (5), any right or liability of the Residuary Body to receive or to repay grants or subsidies from or to the Exchequer or from or to the European Commission shall veat in Birmingham.
(5) Any liability of the Residuary Body to repay such grants or subsidies as are mentioned in paragraph (4) but which are associated with land which is by paragraph (1)(b) transferred to a local council shall vest in that local council.

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Source: https://www.legislation.gov.uk/uksi/1991/710/article/2 (the official version)
Page: https://openlegislation.uk/west-midlands-residuary-body-winding-up-order-1991/article-2
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.