Part IIIAssociated property, rights and liabilities
Transfer schemes
31(1)The Secretary of State may make one or more schemes for the transfer to the Authority of such of the property, rights and liabilities of the Regulator (including any rights and liabilities relating to staff appointed by him) as the Secretary of State considers appropriate in consequence of the transfers of functions effected by Parts I and II of this Schedule.
(2)In this Part of this Schedule “transfer scheme” means a scheme under this paragraph.
Contents of transfer scheme
32(1)The property, rights and liabilities which may be transferred by a transfer scheme include property, rights and liabilities that would not otherwise be capable of being transferred or assigned.
(2)The transfers authorised by sub-paragraph (1) include transfers which are to take effect as if there were no such contravention, liability or interference with any interest or right as there would otherwise be by reason of any provision having effect (whether under any enactment or agreement or otherwise) in relation to the terms on which the transferor is entitled to the property or right, or subject to the liability, in question.
33A transfer scheme may define the property, rights and liabilities to be transferred to the Authority by specifying them or describing them or by referring to all (or all except anything specified or described) of the property, rights and liabilities comprised in a specified part of the undertaking of the Regulator (or partly in one way and partly in the other).
34A transfer scheme may contain provision—
(a)for the creation, in relation to property which the scheme transfers, of an interest in or right over the property in favour of the Regulator,
(b)for the creation in favour of the Authority of an interest in or right over, property retained by the Regulator,
(c)for the creation of rights and liabilities as between the Authority and the Regulator, or
(d)for any rights or liabilities specified or described in the scheme to be, or to be to any extent, enforceable by or against the Authority.
35A transfer scheme may make such supplementary, incidental and consequential provision as the Secretary of State considers appropriate.
Effect of transfer scheme
36On the date appointed by a transfer scheme, the property, rights and liabilities which are the subject of the scheme shall, by virtue of this paragraph, be transferred in accordance with the provisions of the scheme.
37Nothing in this Part affects the validity of anything done by or in relation to the Regulator in connection with anything transferred under a transfer scheme.
38There may be continued by or in relation to the Authority anything (including legal proceedings) relating to anything transferred by a transfer scheme which is in the process of being done by or in relation to the Regulator immediately before it is transferred.
39Anything done by the Regulator for the purpose of or in connection with anything transferred by a transfer scheme which is in effect immediately before it is transferred shall be treated as if done by the Authority.
40The Authority shall be substituted for the Regulator in documents and legal proceedings relating to anything transferred by a transfer scheme.
Transfer of employees
41(1)This paragraph applies where a person employed in the civil service of the state becomes an employee of the Authority under a transfer scheme.
(2)For the purposes of the [1996 c. 18.] Employment Rights Act 1996—
(a)his period of employment in the civil service of the state counts as a period of employment with the Authority, and
(b)the change of employment does not break the continuity of the period of employment.
Modification of transfer scheme
42(1)If at any time after a transfer scheme has come into force the Secretary of State considers it appropriate to do so, he may by order provide that the scheme shall for all purposes be deemed to have come into force with such modifications, other than modifications relating to the transfer of rights and liabilities under a contract of employment, as may be specified in the order.
(2)An order under sub-paragraph (1) may make, with effect from the coming into force of the scheme, such provision as could have been made by the scheme, and in connection with giving effect to that provision from that time may contain such supplemental, consequential and transitional provision as the Secretary of State considers appropriate.
(3)An order under sub-paragraph (1) shall be made by statutory instrument which shall be subject to annulment in pursuance of a resolution of either House of Parliament.
Provision of information to Secretary of State
43The Regulator shall provide the Secretary of State with all such information and other assistance as he may reasonably require for the purposes of or in connection with the exercise of any of the powers conferred on him by this Part of this Schedule.
Consultation
44Before making a transfer scheme, or an order modifying such a scheme, the Secretary of State shall consult the Regulator and the Authority.