Paragraph 1

(1)

The property, rights and liabilities that may be the subject of a transfer scheme include in particular—

(a)

rights and liabilities relating to contracts of employment;

(b)

property, rights and liabilities that would not otherwise be capable of being transferred or assigned by the transferor;

(c)

property acquired after the making of the scheme and rights and liabilities arising after the making of the scheme;

(d)

rights and liabilities under an enactment.

(2)

A transfer scheme may—

(a)

create rights or interests in relation to property for whose transfer the scheme provides or property retained by the transferor;

(b)

create rights and liabilities as between the transferor and a transferee or as between different transferees.

(3)

A transfer scheme may contain provision about enforcement, by or against any one or more of the transferor and the transferee or transferees, of a right or liability for whose transfer or creation the scheme provides.

(4)

A transfer scheme may define the property, rights and liabilities to be transferred or property to be retained by the transferor—

(a)

by specifying it or them;

(b)

by describing it or them.

(5)

A description of property, rights or liabilities may be framed in particular—

(a)

by reference to the transferor's undertaking;

(b)

by reference to a specified part of that undertaking.