Paragraph 11

(1)

Sub-paragraph (2) applies where (apart from that sub-paragraph) a person would have a triggered entitlement in consequence of—

(a)

property, rights or liabilities having been, or being likely to be, transferred by the operation of paragraph 14(1) in relation to a scheme,

(b)

interests, rights or liabilities having been, or being likely to be, created by the operation of paragraph 14(1) in relation to a scheme, or

(c)

anything else having been done, or being likely to be done, by or under a scheme.

(2)

That triggered entitlement shall, as respects the interest or right to which it relates, be enforceable in consequence of the circumstances mentioned in sub-paragraph (1)(a), (b) or (c) to the extent only that the scheme provides for it to be so enforceable.

(3)

In this paragraph “triggered entitlement”, in relation to a scheme, means an entitlement—

(a)

to terminate, modify, acquire or claim an interest or right to which the transferor, or a subsidiary of the transferor, is entitled or subject, or

(b)

to treat an interest or right to which the transferor, or a subsidiary of the transferor, is entitled or subject as modified or terminated.