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1(1)Subject to the following paragraphs of this Schedule, there shall by virtue of this paragraph be transferred to and vest in the Authority on the vesting date—
(a)the property, rights and liabilities of the Board of Trade which immediately before that date were comprised in the undertakings represented by the aerodromes at Aberdeen, Benbecula, Inverness, Islay (Port Ellen), Kirkwall, Storno-way, Sumburgh, Tiree and Wick ;
(b)the property, rights and liabilities of the Board of Trade which immediately before that date were comprised in the following undertakings, namely, the National Air Traffic Services, the Civil Aviation Flying Unit, the Fire Service Training School at Stansted, the Secretary of State's medical unit at Heathrow and the unit of the Directorate of Operational Research and Analysis at Heathrow ;
(c)the property, rights and liabilities of the Secretary of State for Trade and Industry which immediately before that date were comprised in any of the undertakings mentioned in the preceding paragraph ; and
(d)all other property, rights and liabilities of the Board of Trade which are specified in a notice in writing given by the Secretary of State to the Authority before that date as being—
(i)property used and rights enjoyed by the Board of Trade for the purposes of functions of a kind which the Secretary of State considers that the Authority will or may perform by virtue of this Act and he will cease to perform in consequence of this Act, and
(ii)liabilities to which the Board of Trade are subject in connection with such functions,
and which immediately before that date are property, rights and liabilities of the Board of Trade.
(2)Any reference in the preceding sub-paragraph to property and rights of the Board of Trade includes a reference to property and rights of the Crown or a government department other than the department of the Board of Trade which immediately before the relevant vesting date were being managed by the Secretary of State (other than property and rights of his which were then included in an undertaking mentioned in paragraph (b) of the preceding sub-paragraph), and any reference in that sub-paragraph to liabilities of the Board of Trade includes a reference to liabilities of the Crown or such a government department which immediately before that date were being discharged on behalf of the Crown or the department by the Secretary of State (other than liabilities which were then included in such an undertaking).
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