2(1)The things that may be transferred under a property transfer scheme or a staff transfer scheme include—U.K.
(a)property, rights and liabilities that could not otherwise be transferred;
(b)property acquired, and rights and liabilities arising, after the making of the scheme;
(c)criminal liabilities.
(2)A property transfer scheme or a staff transfer scheme may make supplementary, incidental, transitional or consequential provision and may, in particular—
(a)create rights, or impose liabilities, in relation to property or rights transferred;
(b)make provision about the continuing effect of things done by the permitted transferor in respect of anything transferred;
(c)make provision about the continuation of things (including legal proceedings) in the process of being done by, or on behalf of, or in relation to, the permitted transferor in respect of anything transferred;
(d)make provision for references to the permitted transferor in an instrument or other document in respect of anything transferred to be treated as references to the permitted transferee.
(3)A property transfer scheme may make provision for the shared ownership or use of property.
(4)A staff transfer scheme may make provision which is the same as or similar to the TUPE regulations.
(5)A property transfer scheme or a staff transfer scheme may provide—
(a)for the scheme to be modified by agreement after it comes into effect, and
(b)for any such modifications to have effect from the date when the original scheme comes into effect.