Article 3 Transfer of property, rights, liabilities and functions to the Commission

Subject to paragraph (2), any property, rights and liabilities remaining vested in the Trust immediately before 27th August 2007, and any relevant function, shall be transferred to the Commission on that date.

Paragraph (1) shall not apply in respect of any property, rights, liabilities or relevant functions which the Trust has notified in writing to the Commission before 13th August 2007 as those which it thinks necessary or expedient to retain for the purpose of preparing its final accounts and report and winding up its affairs.

Any property, rights and liabilities remaining vested in the Trust immediately before 30th September 2007, and any relevant function, shall be transferred to the Commission on that date.