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4.—(1) On 1st April 1996 the following educational endowments vested in Grampian Regional Council immediately before that date shall be transferred to and vest in Aberdeenshire Council:—
(a)the endowments comprised in the Aberdeenshire Educational Trust, governed by the Aberdeenshire Educational Trust Scheme 1955(1); and
(b)the endowments of the Brander Library Trust, also governed by the said Scheme; and
(c)the endowments listed in Part II of Schedule 1.
(2) On 1st April 1996 the following powers vested in Grampian Regional Council immediately before that date shall be transferred to and vest in Aberdeenshire Council:—
(a)all powers under the Aberdeenshire Educational Trust Scheme 1955;
(b)all powers under the Kincardineshire Educational Trust Scheme 1962(2); and
(c)all powers with respect to the endowments listed in Part II of Schedule 1.
(3) On 1st April 1996 the rights to be paid money under section 2(2) and (3) of the Aberdeenshire Educational Trust Scheme 1955 vested in Grampian Regional Council immediately before that date shall be transferred to and vest in Aberdeenshire Council.
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