Paragraph 1 I1

A scheme may—

(a)

create for the transferor interests in or rights over property transferred by virtue of the scheme;

(b)

create for the transferee interests in or rights over property retained by the transferor;

(c)

create rights or liabilities between the transferor and the transferee.

Annotations

I1: Sch. 3 para. 1 in force at 1.10.2006 by S.I. 2006/2541, art. 2 (with Sch.)