SCHEDULES

SCHEDULE 12Transfer schemes

Part 4General provisions about transfer schemes

Modification of scheme by agreement

15

1

Where the transferor, and the transferee or transferees, under a scheme so agree, the scheme shall be treated for all purposes as having been made with such modifications as may be agreed.

2

Sub-paragraph (1) does not apply in the case of an agreement relating to rights and liabilities under a contract of employment unless the employee is a party to the agreement.

3

Sub-paragraph (1) does not apply in the case of an agreement that adversely affects the property or rights of a person other than the transferor or a transferee unless that person is a party to the agreement.

4

An agreement under sub-paragraph (1) may make—

a

any provision that could have been contained in the scheme, and

b

incidental, supplementary, consequential and transitional provision in connection with giving effect to any such provision.

5

Provision under sub-paragraph (4) may be made so as to have effect from when the scheme was made (or any later time).