(1) This article applies to—
(a) any records of the former Greater London Council vested in the LRB under article 12 of the Local Government Reorganisation (Property etc.) Order 1986 ;
(b) any records of ILEA vested in the LRB under or by virtue of any provision of the Education Reform Act 1988; and
(c) any records of the LRB,
which have not already vested in the Common Council of the City of London (“the Common Council”) under article 11 of the London Residuary Body (Transfer of Property etc ) Order 1990 or which are not otherwise disposed of under the provisions of this Order and which the LRB’s Director of Administration certifies by 30th March 1991 or by each succeeding 30th March are no longer required by the LRB.
(2) On 31st March next following such certification all records so certified to which this article applies and any copyright in them shall vest in the Common Council.
(3)
(a) On 28th March 1991 the LRB shall set aside from its direct capital receipts the sum of £605,730; and
(b) On 29th March 1991 the LRB shall transfer that sum to the Common Council.
(4) The sum transferred by paragraph 3(b) above shall be applied by the Common Council only for defraying expenditure on or in connection with the provision of accommodation for the storage of the records vested in them by paragraph (2) above.
(5) For the purposes of paragraph (3) above “direct capital receipts” has the same meaning as in article 2(1) of the Education (London Residuary Body) (Capital Money) Order 1991 .
(6) The LRB shall have the right to inspect and to he supplied with copies of any records transferred by this article.