Paragraph 4 Obligation to effect transfers etc. under a schemeI1

United Kingdom

(1)

A scheme may contain provision for imposing on a transferee or a transferor an obligation—

(a)

to enter into such agreements with another person on whom a corresponding obligation is, or could be or has been, imposed by virtue of this paragraph (whether in the same or a different scheme), or

(b)

to execute such instruments in favour of any such person,

as may be specified or described in the scheme.

(2)

An obligation imposed on a person by virtue of sub-paragraph (1) is enforceable by the relevant person in civil proceedings—

(a)

for an injunction,

(b)

for specific performance of a statutory duty under section 45 of the Court of Session Act 1988, or

(c)

for any other appropriate remedy or relief.

(3)

The relevant person for the purposes of sub-paragraph (2) is the person with, or in favour of whom, the agreement or instrument is to be entered into or executed.

Annotations

Commencement

I1: Sch. 4 para. 4 in force at 26.12.2023, see s. 334(3)(a)