Paragraph 2 Purpose of Scheme

This Scheme is made with a view to securing the transfer to the Successor Company under section 2 of the 1991 Act of—

(a)

all property, rights and liabilities of the Authority other than—

(i)

the securities of the Successor Company held by the Authority;

(ii)

any rights or liabilities of the Authority in respect of such securities held by a nominee of the Authority; and

(iii)

any liability of the Authority incurred by virtue of section 19 of the 1991 Act in connection with any proposal for maximising participation by employees of the Sucessor Company in ownership of its equity share capital; and

(b)

all functions conferred or imposed on the Authority by any provision contained in—

(i)

the Dundee Harbour and Tay Ferries Order Confirmation Act 1952^f1;

(ii)

the Dundee Harbour Revision Order 1969^f2;

(iii)

the Dundee Harbour Order Confirmation Act 1975^f3;

(iv)

the Dundee Port Authority Order Confirmation Act 1975^f4; or

(v)

the Dundee Port Authority Order Confirmation Act 1980^f5;

or in any other local statutory provision.

Annotations

Footnotes

f1: 1952 c.xx.
f2: S.I. 1969/1488.
f3: 1975 c.xvii.
f4: 1975 c.xviii.
f5: 1980 c.xxxiv.