Third parties affected by transfersN.I.
4.—(1) If in consequence of any transfers effected under Article 54—N.I.
(a)the rights or liabilities of a third party which were enforceable against or by NIAL or the Holding Company become enforceable as to part against or by one transferee and as to part against or by another transferee; and
(b)the value of any property or interest of that third party is thereby diminished,
such compensation as may be just shall be paid to that third party by one or both of the transferees.
(2) In sub-paragraph (1) “third party” means a person other than NIAL, the Holding Company or a transferee.
(3) Any dispute as to whether, and if so how much, compensation is payable under sub-paragraph (1), or as to the person to or by whom it shall be paid, shall be referred to and determined by an arbitrator appointed by the Department.