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(1)On such day as the Secretary of State may appoint by order made by statutory instrument the functions of the National Ports Council shall determine, and—
(a)so much of any enactment as requires any person to consult, or do anything else in relation to, the Council, or makes consultation with, or the doing of anything else in relation to, the Council a condition precedent to the taking of any action by any person, shall cease to have effect; and
(b)all the property, rights, liabilities and obligations which immediately before the appointed day were property, rights, liabilities and obligations of the Council shall by virtue of this section, become property, rights, liabilities and obligations of the Secretary of State.
(2)Subsection (1) has effect subject to Part I of Schedule 5 which contains further provisions relating to the dissolution of the Council.
(3)The Secretary of State shall repay to the National Loans Fund an amount equal to the debts of the Council to the Secretary of State outstanding immediately before the appointed day.
(4)Sums received by the Secretary of State by virtue of subsection (1)(b) or by virtue of paragraph 4(2)(b) of Schedule 5 shall, if not applied in making the repayment mentioned in subsection (3), be paid into the Consolidated Fund.
(5)In this section and Part I of Schedule 5—
“the appointed day” means the day appointed by the Secretary of State under subsection (1);
“the Council” means the National Ports Council;
“enactment” means any provision of a public general Act, of a local, private or personal Act, of a provisional order confirmed by an Act or any regulations, order, scheme, byelaws or similar instrument made under an Act.
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