# The Northern Rock plc Transfer Order 2009, Article 3: The transfer, &c.


(1) All the property, rights and liabilities specified in or by virtue of Part 2 of Schedule 1 are transferred to BCo at the transfer time other than the excluded property, rights and liabilities.
(2) The excluded property, rights and liabilities are specified in or by virtue of Part 3 of Schedule 1.
(3) The transfer time is immediately after the time at which this article comes into force.
(4) ACo is liable to pay BCo the sum of £8,581,000,000 by the end of 4th January 2010.
(5) Parts 1 (interpretation) and 4 (further provisions) of Schedule 1 have effect.

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Source: https://www.legislation.gov.uk/uksi/2009/3226/article/3 (the official version)
Page: https://openlegislation.uk/northern-rock-plc-transfer-order-2009/article-3
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.