Article 5 Specific property etc to be transferred as part of the transfer

(1)

Without prejudice to the generality of Articles 3 and 4, the following are, or (where Article 4(1) or (3) applies) shall be, transferred to STFC—

(a)

the land and property held by PPARC specified in Schedule 1, together with—

(i)

any immovable property on such land, whether specified in that Schedule or not; and

(ii)

any right, liability or obligation acquired or incurred by PPARC in relation to such land;

(b)

ownership of any equipment and other movable property, including any vehicle, owned by PPARC in connection with its activities on the land specified in Schedule 1, together with any other rights, liabilities or obligations acquired or incurred by PPARC in respect of such equipment and other movable property, including any vehicle, used in connection with its activities on that land;

(c)

the shares and other interests held by or on behalf of CCLRC specified in Schedule 2;

(d)

the intellectual property rights specified in Schedule 3;

(e)

any right, liability or obligation of CCLRC or PPARC arising under or in relation to any contract of employment under which any person is, or has been, employed by CCLRC or PPARC;

(f)

any right, liability or obligation of CCLRC or PPARC arising under or in relation to any agreement entered into by CCLRC or PPARC, including—

(i)

the agreements specified in Schedule 4;

(ii)

any right, liability or obligation arising in relation to the award or administration of research grants, studentships and fellowships;

(iii)

any liability for a guarantee, indemnity or financial assistance by way of grant or otherwise; and

(iv)

any right to possession of any movable property arising under or in relation to an agreement for goods or services;

(g)

any other right, liability or obligation of CCLRC or PPARC arising in connection with their activities as Research Councils, whether imposed by or under any statutory provision, in relation to any civil proceedings, or otherwise; and

(h)

the property specified in Schedule 5.

(2)

No property, right, liability or obligation of CCLRC or PPARC shall not be transferred to STFC merely because it is not specified, or is not of a description specified, in this Article.