Article 3 Transfer of money
(1)
On the transfer date the Residuary Body shall pay £1 million to Wolverhampton.
(2)
The sum paid by virtue of paragraph (1) shall be applied for defraying expenditure incurred by Wolverhampton on or in connection with the functions transferred to it by article 4 of this Order.
(3)
On the transfer date the Residuary Body shall pay £1.35 million to Lichfield.
(4)
The sum paid by virtue of paragraph (3) shall be applied for defraying expenditure incurred by Lichfield only on or in connection with works of repair or replacement to water supply and sewerage systems for properties at Canwell, Staffordshire.