Article 5 Transfer of the Undertaking
Provided that MSCC has Control of the Company on the transfer date, all statutory and other powers and duties comprised in the Undertaking (including under the provisions of this Order) except for article 11 (protection of the Canal) of this Order are transferred from MSCC to the Company on the transfer date, and from that date MSCC ceases to have any such duties or powers in respect of the Undertaking.
On the transfer date, the Undertaking is transferred to and vests in the Company and from that date MSCC ceases to have any property, rights, liabilities and obligations in respect of the Undertaking.
On and after the transfer date any statutory provision of local application or document (other than a document referred to in article 6 (saving of agreements, etc)) has, so far as it relates to the Rixton and Warburton Bridge, effect (except where the context otherwise requires and subject to any necessary modifications) as if any reference however worded and whether express or implied—
to MSCC, were construed as a reference to the Company; and
to any officer or employee of MSCC, were construed as a reference to an officer or employee of the Company who corresponds as nearly as may be to the first-mentioned officer or employee.
MSCC must not appoint the transfer date before the Improvements have been completed and MSCC has served a notice on the local highway authorities confirming the date on which the completion of the Improvements occurred.
Any Change of Control of the Company may only occur with consent of the Secretary of State on such terms and conditions as it thinks fit.