# The Water and Sewerage Undertakers (Exit from Non-household Retail Market) Regulations 2016, Paragraph 10: Effect of transfer scheme


(1) At the time at which a transfer scheme takes effect—
(a) any property, rights or liabilities to be transferred by the scheme become, by virtue of this sub-paragraph, the property, rights or liabilities of the person to whom the scheme provides for them to be transferred; and
(b) any interests, rights or liabilities to be created by the scheme become, by virtue of this sub-paragraph, the interests, rights or liabilities of the person in whose favour or in relation to whom the scheme provides for them to be created.
(2) But a transfer scheme is of no effect if the relevant undertaker’s permission to withdraw from the non-household retail market lapses under regulation 15.

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Source: https://www.legislation.gov.uk/ukdsi/2016/9780111147177/schedule/1/paragraph/10 (the official version)
Page: https://openlegislation.uk/draft-water-and-sewerage-undertakers-exit-from-non-household-retail-market-regulations-2016/schedule-1/paragraph-10
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.