Article 28 Transitional provisions

For the purposes of articles 23 to 27—

• “relevant function” means a function transferred by or by virtue of any provision of this Order;

• “relevant property or liability” means any property or liability transferred by article 3 of this Order;

• “transferor” and “transferee”, in relation to a relevant function or any relevant property or liability, mean respectively—

  1. (a)

     the person from whom the function or property or liability is transferred, and

  2. (b)

     the person to whom the function or property or liability is transferred.