# Horserace Betting and Olympic Lottery Act 2004, Paragraph 3

Status: prospective

(1) The Board may do anything that it thinks necessary or appropriate in connection with a transfer direction or a transfer scheme.
(2) In particular, the Board may enter into an agreement which confers or imposes on the Board rights or liabilities in respect of anything which has been or is to be transferred by a transfer scheme; and those rights and liabilities may include—
(a) rights to receive payments by way of consideration for transfer or otherwise, and
(b) liabilities to make payments.
(3) But the Board may enter into an agreement by virtue of sub-paragraph (2) only with the consent of—
(a) the Secretary of State, and
(b) the Treasury.

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Source: https://www.legislation.gov.uk/ukpga/2004/25/schedule/3/paragraph/3 (the official version)
Page: https://openlegislation.uk/horserace-betting-and-olympic-lottery-act-2004/schedule-3/paragraph-3
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.