Notwithstanding the repeal of section 86(1A) and (1C) of the 1978 Act6, the duty in those subsections shall continue to apply to the Board and to former members of a residual fund-holding practice with respect to the part financial year 1999-2000 and to preceding financial years.

Where during the part financial year 1999-2000 recognition has been removed from the former members of a residual fund-holding practice in accordance with regulations 12 and 13 or 14 of the 1997 Regulations, the duty imposed under section 86(1A)(a) shall be performed by the Board.

Final accounts shall be completed by 12th November 1999.