Article 16 Specific transfers

Any property described in column 2 of Part I of Schedule 3 of an old authority named in column 1 shall vest in the body specified in that respect in column 3.

Any property, rights or liabilities described in column 2 of Part II of Schedule 3 of an old authority or body named in column 1 shall vest in the new authority specified in that respect in column 3.

Where, by virtue of paragraph (1), land vests in a body (“the transferee body”), any property in or on that land, being property vested in the old authority in whom the land was vested, shall, subject to articles 17, 20 and 21, vest in the transferee body.

For the purposes of paragraph (3) the expression “property in or on that land” shall be construed in accordance with article 7(2) save that it shall not include property consisting of cash or investments and the expression “the transferee body” shall not include the Residuary Body.

Any rights or liabilities in respect of land or property transferred by paragraphs (1), (2) or (3) save for rights or liabilities in respect of money borrowed by an old authority shall, subject to articles 9, 10 and 22, vest in the body in which the land or, as the case may be, the property is vested.