Article 4 Transfer of remaining property, rights and liabilities to the Secretary of State

(1)

All property, rights and liabilities which are—

(a)

vested in the Corporation immediately before the commencement date, and

(b)

not transferred by virtue of article 2 or 3,

are transferred to the Secretary of State.

(2)

Paragraph (1) does not apply to any property, rights and liabilities specified in the retained list.

(3)

Any property, rights and liabilities remaining vested in the Corporation immediately before the dissolution date are transferred to the Secretary of State on that date.

(4)

In this article “dissolution date” means the date on which the Corporation is dissolved by order under section 166(1)^f1 of the Local Government, Planning and Land Act 1980.

Annotations

Footnotes

f1: Section 166(1) was amended by section 180 of the Leasehold Reform, Housing and Urban Development Act 1993 (c. 28).