4.—(1) On the dissolution date—
(a)the functions of LBRO under Part 1 of the Act are transferred, in accordance with Schedule 1, to the Secretary of State and the Welsh Ministers; and
(b)the functions of LBRO under Part 2 of the Act are transferred, in accordance with Schedule 1, to the Secretary of State.
(2) Schedule 1 (which gives effect to the transfers made by paragraph (1) and makes consequential, supplemental and incidental provision in relation to those transfers) has effect.
(3) The Secretary of State and the Welsh Ministers must enter into a memorandum of understanding with each other as to how they will work together in the exercise of their respective functions as a result of this Order.