7 Dissolution of the authority.E+W+S
(1)Once the appropriate Minister is satisfied—
(a)that the functions of the authority under sections 3 and 4(3) above have been completely carried out;
(b)that nothing further remains to be done by the authority under any provision made by the scheme; and
(c)that the authority have met all expenses and liabilities incurred by them in carrying out their functions under this Part (including in particular liabilities in respect of levy under section 13(1) below or corporation tax on chargeable gains) other than—
(i)any expenses met by the successor company in accordance with section 6(2)(b) above; or
(ii)any liabilities which he considers should be transferred to the successor company under subsection (2) below;
he may, after consulting the authority, by order dissolve the authority on a day specified in the order.
(2)On that day any property, rights and liabilities to which the authority are entitled or subject immediately before that day (whether or not capable of being transferred or assigned by the authority) are transferred to and by virtue of this section become property, rights and liabilities of the successor company.