1.—(1) In this Schedule—
“specified” means specified in the transfer scheme;
“third party” means any person other than—
the Department; or
the successor company;
“the transfer” means the transfer effected by Article 270(2).
(2) References in this Schedule to any external assets or liabilities are references to any assets or liabilities as respects which any issue arising in any proceedings would have to be determined (in accordance with the rules of private international law) by reference to the law of a country or territory other than Northern Ireland (“external law”).