91 Statutory accounts of the group
Water Act 1989 (1989 c 15) | Legislation

91  Statutory accounts of the group

(1)     For the purposes of any statutory accounts of a water authority's successor company—

(a)     the vesting effected in accordance with any scheme under Schedule 2 to this Act shall be taken—

(i)     to have been a vesting in that company of all the property, rights and liabilities to which that authority was entitled or subject immediately before the end of their last accounting date and which, at that time, were not property, rights and liabilities relating to Part III functions; and

(ii)     to have been effected immediately after that date;

and

(b)     the value of any asset and the amount of any liability of that authority which is taken by virtue of paragraph (a) above to have been vested in that company shall be taken to have been the value or (as the case may be) amount assigned to that asset or liability

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