Paragraph 3 I1

The old company may for the purpose of giving effect to the proposed transfer make a scheme (a “postal transfer scheme”) for the transfer of property, rights and liabilities from it to the new company (or companies).

A postal transfer scheme has effect only if—

A postal transfer scheme may be made only at a time when the postal administration order is in force in relation to the old company.

A postal transfer scheme takes effect at the time specified in the scheme.

In the case of a proposed transfer falling within section 69(4)(a) (transfer to wholly-owned subsidiary), sub-paragraph (2)(a) does not apply.