SCHEDULES

SCHEDULE 2Transfer schemes

Obligation to effect transfers etc. under a scheme

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1

A scheme may contain provision for imposing on a transferee or a transferor an obligation—

a

to enter into such agreements with another person on whom a corresponding obligation is, or could be or has been, imposed by virtue of this paragraph (whether in the same or a different scheme), or

b

to execute such instruments in favour of any such person,

as may be specified or described in the scheme.

2

An obligation imposed on a person by virtue of sub-paragraph (1) shall be enforceable by the relevant person in civil proceedings—

a

for an injunction;

b

for specific performance of a statutory duty under section 45 of the Court of Session Act 1988 (c. 36); or

c

for any other appropriate remedy or relief.

3

The relevant person for the purposes of sub-paragraph (2) is the person with, or in favour of whom, the agreement or instrument is to be entered into or executed.