4 Compensation and superannuation matters
1 All the functions of the Residuary Body in relation to any contract of employmeny with the abolished council or with the Residuary Body and all rights and liabilities of that Body which arise from any such contract shall on the transfer daye become functions of, or vest in, Wolverhampton.
2 Without prejudice to the generality of paragraph (1) the functions of the Residuary Body conferred by regulation 3(1) of the Local Government Superannuation (Miscellaneous Provisions) Regulations 1986 shall vest in Wolverhampton.
S.I.1986/380.
3 All the fuctions of the Residuary Body—
(a) under paragraph 3(2) of Schedule 13 to the 1985 Act; or
(b) relating to the making of payments under the Local Government Reorganisation (Reduction of Redundancy Paymentn Cases) Scheme 1986
Made under section 59(3) of the Local Government Act 1985.
shall on the transfer date become functions of, or transfer to Wolverhampton.
4 Regulation 3(3) of the Regulations mentioned in paragraph (2) above shall apply to the exercise by Wolverhampton of any discretionary function transferred by paragraph (1) as if references to the appropriate residuary body were references to Wolverhampton.