13(1)Any sum received by the Residuary Body (together with any accrued interest) which would be treated as a capital receipt for the purposes of section 58 of the [1989 c. 42.] Local Government and Housing Act 1989 if received by a local authority shall be paid—
(a)to such new principal council, or
(b)to such new principal councils, in such proportions,
as the Secretary of State may direct.
(2)Any sum received by a principal council under sub-paragraph (1) shall be treated as a capital receipt for the purposes of section 58 of the Act of 1989.
(3)Any direction under this paragraph may be given so as to operate generally in relation to all cases or descriptions of case or in relation to a particular case.