Paragraph 7

(1)

Where 2 or more transfers are effected under a transfer scheme, a certificate issued by either or any of the transferees ( “transferee A”) with the concurrence of the other or others of them that—

(a)

any asset specified in the certificate;

(b)

any such interest in or right over any such asset as may be so specified; or

(c)

any liability so specified,

is by virtue of this Order for the time being vested in transferee A shall be conclusive evidence for all purposes of that fact.

(2)

If, on the expiration of one month from a request from either or any of the transferees ( “transferee A”) for the other or one of the others of them ( “transferee B”) to concur in the issue of such a certificate, transferee B has failed so to concur—

(a)

transferee A may refer the matter to the Department; and

(b)

the Department may direct transferee B to concur in the issue of a certificate prepared in such terms as are specified in the direction.