# The Agriculture (Northern Ireland) Order 1993, Article 14: Statutory transfer on vesting day


(1) On the vesting day under an approved scheme, any transfer under the scheme which—
(a) is a qualifying transfer; and
(b) is a transfer which the scheme provides is to have effect under this Article,
shall have effect by virtue of this Order.
(2) Paragraph (1) shall not apply if—
(a) a notice under paragraph (4) of Article 13 has been given in respect of the scheme; and
(b) the notice has not been withdrawn under paragraph (6) of that Article.
(3) For the purposes of paragraph (1)(a), a transfer is a qualifying transfer if it is—
(a) a transfer of property, rights or liabilities of—
(i) the Board; or
(ii) a subsidiary of the Board,
to a body which is a qualifying body; or
(b) a transfer of property, rights or liabilities of a subsidiary of the Board to the Board.
(4) For the purposes of paragraph (3), a body is a qualifying body if it is—
(a) a society registered under the Industrial and Provident Societies Act (Northern Ireland) 1969 which has not previously traded;
(b) a company registered under the Companies (Northern Ireland) Order 1986 which has not previously traded; or
(c) a company registered under that Order which was a subsidiary of the Board immediately before the day on which this Order is made.

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Source: https://www.legislation.gov.uk/nisi/1993/2665/article/14 (the official version)
Page: https://openlegislation.uk/agriculture-northern-ireland-order-1993/article-14
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.