Transport (London) Act 1969

8 (1) Paragraph 7 (except sub-paragraph (d) thereof) and paragraphs 8 to 12 of Schedule 4 to the Act of 1968 (which relate to the construction of agreements, statutory provisions and documents after certain transfers) shall apply where any property, rights or liabilities of the London Board are transferred from that Board to the Executive or to the designated company under section 16 of this Act, including any case where they are so transferred by virtue of an agreement under paragraph 1 or a direction under paragraph 3 of this Schedule, as if for any reference in the said paragraphs of that Schedule to that Act there were substituted a reference to this Act.

(2) Where any agreement such as is mentioned in the said paragraph 7 refers to property, rights and liabilities which, under paragraph 1 or 3 of this Schedule, are divided or apportioned between the Executive and the designated company, the agreement shall have effect on and after the date from which the division or apportionment has effect as if it constituted two separate agreements separately enforceable by and against each of those bodies respectively as regards the part of the property, rights and liabilities vesting in that body and not as regards the other part; and this sub-paragraph shall apply in particular to the covenants, stipulations and conditions of any lease by or to the London Board.

(3) For the purposes of the said paragraphs 8 to 12 as applied by sub-paragraph (1) of this paragraph, sub-paragraph (2) of this paragraph shall be deemed to form part of the said paragraph 7.