Paragraph 1 Transfer schemesI1I2

The Secretary of State may make one or more property transfer schemes or staff transfer schemes.

A “property transfer scheme” is a scheme for the transfer to ARIA from a permitted transferor of any property, rights or liabilities, other than rights or liabilities under or in connection with a contract of employment.

A “staff transfer scheme” is a scheme for the transfer to ARIA from a permitted transferor of any rights or liabilities under or in connection with a contract of employment.

In this Schedule, a “permitted transferor” means the Secretary of State or United Kingdom Research and Innovation.