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(1)The property, rights, interests and liabilities to which the transferor is entitled or subject are transferred to the transferee.
(2)Subsection (1) has effect in relation to property, rights, interests and liabilities to which it applies despite any provision (of whatever nature) which would otherwise prevent, penalise or restrict the transfer of the property, rights, interests or liabilities.
(3)Subsection (1) is subject to section 2.
The Transfer of Undertakings (Protection of Employment) Regulations 1981 (S.I. 1981/1794) apply to the transfer of property, rights, interests and liabilities by section 1, whether or not they would so apply apart from this section.
(1)The transferor is dissolved.
(2)The Baird Trust Order Confirmation Acts 1939, 1957 and 1971 are repealed.
(1)In every existing contract or enactment to which the transferor is a party or in which the transferor is referred to, references to the transferor are to be construed as references to the transferee.
(2)Any property, right, interest or liability in respect of which but for this Act—
(a)delivery or possession; or
(b)intimation of its assignation,
would be required in order to complete title to it, shall transfer to and vest in the transferee by virtue of this Act as if at the date on which the transfer of the property, right, interest or liability by this Act takes effect the transferee had taken delivery or possession of the property, right, interest or liability in question or, as the case may be, had made intimation of its assignation.
(3)To enable the transferee to complete a title, if thought fit, to any property vested in it by virtue of this Act by notice of title or otherwise, or to deduce title, this Act shall be deemed to be, and may be used as, a general disposition, conveyance or, as the case may be, assignation of such property in favour of the transferee.
(4)Any legal proceedings, applications to any authority or other proceedings for the resolution of a dispute by or against the transferor which are pending or current immediately before this Act comes into force may be continued by or against the transferee.
In this Act—
“transferee” means The Baird Trust a company incorporated under the Companies Acts as a company limited by guarantee (Registered Number SC 235853) and having its registered office at 182 Bath Street Glasgow G2 4HG;
“transferor” means The Baird Trust (a Scottish Charity charity number SC 016549) incorporated by Act of Parliament under and by virtue of the Baird Trust Order Confirmation Acts 1939, 1957 and 1971.
(1)This Act may be cited as the Baird Trust Reorganisation Act 2005.
(2)This Act, with the exception of section 3 and this section, comes into force 30 days after it has received Royal Assent.
(3)Section 3 comes into force on the first anniversary of Royal Assent.
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