Article 2 Transfer of property etc. of the Transport Holding Company to the National Freight CorporationF1I1
United Kingdom
On the transfer date there shall be transferred to the Freight Corporation from the Holding Company all the property, rights and liabilities belonging to or subsisting against the Holding Company immediately before the transfer date.
On and after the transfer date the Freight Corporation shall have, in addition to their existing powers, such additional powers as are necessary to enable them to deal with or discharge the property, rights and liabilities transferred to them by virtue of this Order.
The Secretary of State may pay to the Freight Corporation out of money provided by Parliament grants of such amounts as are determined by him, with the approval of the Treasury, to be appropriate for the purpose of enabling or assisting the Freight Corporation to discharge the liabilities transferred to them by virtue of this Order.
Annotations
Textual amendments
- F1
Order revoked (E.W.) (31.12.2013) by The Control of Fuel and Electricity, Local Government and Transport (Revocations and Savings) Order 2013 (S.I. 2013/2986), art. 1, Sch. 3 (with art. 3)