3(1)The Secretary of State may, after consultation with the regional development agencies, make a transfer scheme himself if—
(a)he decides not to approve (with or without modifications) a scheme submitted to him before the date specified in relation to it under paragraph 2(1), or
(b)no scheme is submitted to him for approval before that date.
(2)Nothing in sub-paragraph (1) shall prevent the Secretary of State from approving a scheme submitted to him after the date specified in relation to it under paragraph 2(1).
(3)A scheme made by the Secretary of State under sub-paragraph (1) shall be treated for all purposes as having been made by the Commission and approved by him.