Transfers of franchise assets
2(1)The Authority may make schemes for the transfer, at or after the end of a franchise period relating to a franchise agreement, to any person or persons specified in sub-paragraph (2) of property, rights and liabilities which, immediately before the end of that period, are for the time being designated as franchise assets for the purposes of the franchise agreement.
(2)The persons referred to in sub-paragraph (1) are—
(a)the Authority,
(b)a company which is wholly owned by the Authority, and
(c)a franchise company.
(3)On the day on which such a scheme comes into force the transferee shall pay the transferor (or vice versa) such sums as may be specified in, or determined in accordance with, the relevant franchise agreement (but subject to any other agreement made between the transferor and the transferee).