4.—(1) This paragraph applies where—
(a)a Board of Governors (“the existing Board of Governors”) is responsible for the management of two or more schools; and
(b)one of those schools ceases to be under the management of that Board of Governors and comes under the management of another Board of Governors (“the new Board of Governors”).
(2) Where this paragraph applies, the Department may give such directions as it thinks fit with respect to the transfer of such property, rights or liabilities of the existing Board of Governors as it thinks appropriate to the new Board of Governors.
(3) Before giving any directions under this paragraph, the Department shall consult—
(a)the existing Board of Governors,
(b)the new Board of Governors,
(c)the board responsible for the management of the schools in question, and
(d)where the schools in question are maintained schools, the trustees of the schools and (where the schools are Catholic maintained schools) the Council for Catholic Maintained schools.
(4) Where directions under this paragraph provide for the transfer of any property, right or liability to the new Board of Governors, that property, right or liability shall, by virtue of this paragraph, vest in that Board of Governors on such date as is specified in relation thereto in the directions.