66.—(1) Where by virtue of these regulations or of the order any matter for the purposes of which in pursuance of paragraph 19 of Schedule 13 to the Local Government Act 1972 moneys forming part of a fund to which that paragraph applies have been used is transferred to an authority other than the authority by whom such fund is maintained on and after the appointed day, the provisions of sub-paragraph (2) of that paragraph, and sub-paragraph (3) thereof in so far as it relates to the debiting of accounts, shall be applicable to the first-mentioned authority.
(2) Where by virtue of these regulations or of the order any matter for the purposes of which in pursuance of regulation B.6 of the Local Government Superannuation Regulations 1974(1) moneys forming part of a superannuation fund have been used is transferred to an authority other than the authority by whom the fund is maintained on and after the appointed day, the said regulation shall apply as if the moneys had been lent to the first-mentioned authority.
(3) Where by virtue of these regulations or of the order any matter in respect of which any advance from a capital fund established under paragraph 16 of Schedule 13 to the Local Government Act 1972 or under any local Act is not fully repaid is transferred to an authority other than the authority by whom such fund is maintained on and after the appointed day, the first-mentioned authority may treat the outstanding amount of the advance as an advance to the capital fund established by them and make such payments to that fund as they consider appropriate, but otherwise any liability to make repayments in respect of the advance shall cease.
(4) Where by virtue of these regulations or of the order any matter in respect of which advances from a consolidated loans fund or loans pool would have fallen to be repaid is transferred to any authority other than the authority by whom such fund or pool is maintained on and after the appointed day—
(a)sums which would have become due and owing to the fund or pool shall be paid by the authority first mentioned to the authority last mentioned:
(b)the outstanding amount in respect of any such advances shall be shown in the accounts of the authority first mentioned as loans from other local authorities and as advances to the appropriate borrowing account, and in the accounts of the authority last mentioned as loans to other authorities.
(5) In relation to a London borough, any provision of this regulation which applies to the corporation of the borough shall be given effect to by the borough council.
(1974 I, p. 1986).