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2. (1) The Board shall be wound up in accordance with the provisions of this Article.
(2) On the coming into operation of this Article the Board shall cease to exercise its functions except in so far as continued exercise of those functions may be necessary or expedient for the purpose of the winding up.
(3) Between the coming into operation of this Article and the 1st October 1972 the Board shall discharge its liabilities.
(4) Immediately before 1st October 1972 the Board shall transfer to the Secretary of State in such manner as he may direct the remaining assets of the Board and those assets shall be applied by the Secretary of State for the purpose specified in paragraph (5) of this Article.
(5) The specified purpose shall be the repayment (as the case may allow in whole or in part) of any grants made to the Board out of monies provided by Parliament under section 5(1).
(6) The accounts of the Board up to 1st October 1972 shall be prepared and audited in accordance with section 8 and those accounts and the final report of the Board shall be laid before Parliament in accordance with that section.
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