(1) The London Borough of Camden shall obtain an actuarial valuation of the liabilities as at 1st January 1997 of the London Boroughs Children’s Regional Planning Committee (“the Committee”) as respects the pension fund maintained by the London Borough of Camden and shall send copies of it to the Committee and to the Secretary of State as soon as is reasonably practicable.
(2) As soon as is reasonably practicable after the London Borough of Camden have obtained such a valuation, they shall obtain an actuary’s certificate specifying the sum to be paid by the Committee in respect of its liabilities (if any) to the pension fund (excluding any sums payable or to be payable by the Committee under regulation L13 (3A)) in respect of the pensions payable by, and other liabilities of, the fund in respect of former employees of the Committee and those persons who, under the principal Regulations, are or may become entitled to benefit through them.
(3) The Committee shall, as soon as reasonably practicable after production of such actuary’s certificate, pay to the pension fund maintained by the London Borough of Camden the sum specified in such certificate as the amount due from the Committee and, upon that being done, the Committee shall have no liability to make any further payments to the pension fund (except for any outstanding liability for payments under regulation L13 (3A)).