Paragraph 2 Supplementary

(1)

The things that may be transferred under a property transfer scheme or a staff transfer scheme include—

(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 may transfer property, rights and liabilities which—

(a)

do not exist when the scheme is made but do exist when the transfer takes effect, or

(b)

become property, rights or liabilities of the permitted transferor after the scheme is made and before the transfer takes effect.

(3)

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;

(e)

dispense with a formality in relation to a transfer (whether or not it would otherwise be required by virtue of an enactment or instrument);

(f)

dispense with a requirement for consent (whether arising under an enactment, an instrument or an agreement).

(4)

A property transfer scheme may make provision for the shared ownership or use of property.

(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 such modifications to have effect from a date when the original scheme comes into effect.