1(1)The property, rights and liabilities which may be transferred by a transfer scheme under section 106 (“transfer scheme”) include property, rights and liabilities that would not otherwise be capable of being transferred or assigned.E+W
(2)The transfers authorised by sub-paragraph (1) include transfers which are to take effect as if there were no such contravention, liability or interference with any interest or right as there would otherwise be by reason of any provision having effect (whether under any enactment or agreement or otherwise) in relation to the terms on which the transferor is entitled to the property or right, or subject to the liability, in question.
Commencement Information
I1Sch. 5 para. 1 in force at 18.11.2003 by S.I. 2003/2938, art. 2(a) (with art. 8, Sch.)
2E+WA transfer scheme may define the property, rights and liabilities to be transferred by specifying or describing them or by referring to all of the property, rights and liabilities comprised in a specified part of the undertaking of the transferor (or partly in one way and partly in the other).
Commencement Information
I2Sch. 5 para. 2 in force at 18.11.2003 by S.I. 2003/2938, art. 2(a) (with art. 8, Sch.)
3E+WA transfer scheme may contain provision—
(a)for the creation, in relation to property which the scheme transfers, of an interest in or right over the property in favour of the transferor,
(b)for the creation in favour of the Service of an interest in or right over property retained by the transferor,
(c)for the creation of any rights or liabilities as between the transferor and the Service,
(d)for any rights or liabilities specified or described in the scheme to be, or to be to any extent, enforceable by or against the transferor or the Service, or
(e)for imposing on the transferor and the Service an obligation to enter into written agreements with, or execute other instruments in favour of, each other.
Commencement Information
I3Sch. 5 para. 3 in force at 18.11.2003 by S.I. 2003/2938, art. 2(a) (with art. 8, Sch.)
4E+WA transfer scheme may include such supplemental, incidental, consequential and transitional provision as the Secretary of State considers appropriate.
Commencement Information
I4Sch. 5 para. 4 in force at 18.11.2003 by S.I. 2003/2938, art. 2(a) (with art. 8, Sch.)