# The Crown Estate Transfer Scheme 2017, Paragraph 3: Renewal of existing rights of the Secretary of State


(1) This paragraph applies to a right of the Secretary of State—
(a) which—
(i) exists immediately before the transfer date, or
(ii) comes into existence on or after the transfer date (including by operation of any provision in this Schedule); and
(b) to which any of the following apply—
(i) the right has been granted for a specific term,
(ii) the right will terminate on the occurrence of a specific event,
(iii) the right may be terminated by the manager.
(2) At any time before, or as soon as practicable after, the relevant event and following consultation with the manager the Secretary of State may give notice to the manager in writing stating—
(a) that the Secretary of State requires the right to be renewed,
(b) the date on which the right is to begin, and
(c) the term for which the right is required to be granted.
(3) Where notice is given under sub-paragraph (2), a right is deemed to be granted by the manager to the Secretary of State on the same terms and conditions as the existing right but subject to the following modifications—
(a) the right begins on the date specified in the notice,
(b) the right is granted for the term specified in the notice,
(c) notwithstanding any provision to the contrary in relation to the existing right, the right will not terminate otherwise than on expiry of the term mentioned in paragraph (b), and
(d) the Secretary of State must pay market value for the right.
(4) Sub-paragraph (3) is subject to any alternative agreement which the manager and the Secretary of State may reach.
(5) In this paragraph—
“the existing right” means the right mentioned in sub-paragraph (2)(a); and
“relevant event” means—
(a) in relation to a right mentioned in sub-paragraph (1)(b)(i), the expiry of the term for which the right was granted,
(b) in relation to a right mentioned in sub-paragraph (1)(b)(ii), the occurrence of the event which will terminate the right, and
(c) in relation to a right mentioned in sub-paragraph (1)(b)(iii), the termination of the right by the manager.

---
Source: https://www.legislation.gov.uk/ukdsi/2017/9780111155103/schedule/4/paragraph/3 (the official version)
Page: https://openlegislation.uk/draft-crown-estate-transfer-scheme-2017/schedule-4/paragraph-3
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.