(1)A scheme under section 409(1) or (2) of the Greater London Authority Act 1999 (c. 29) (transfer schemes) which transfers property, rights or liabilities—
(a)from London Regional Transport or a subsidiary of London Regional Transport, and
(b)to Transport for London or a subsidiary of Transport for London,
may provide that section 412(3) of that Act (transfer not to trigger or breach contractual provision) shall not apply in relation to the transfer.
(2)A transfer scheme within the meaning of paragraph 1 of Schedule 12 to that Act (schemes made by Transport for London) which transfers property, rights or liabilities may provide that paragraph 2(3) of that Schedule (transfer not to trigger or breach contractual provision) shall not apply in relation to the transfer.
(3)Provision included in a scheme by virtue of subsection (1) or (2) may disapply section 412(3) of, or paragraph 2(3) of Schedule 12 to, that Act—
(a)generally,
(b)only in relation to a specified contract or instrument, or class of contract or instrument,
(c)only in relation to a specified right, class of right, provision or class of provision,
(d)only in relation to a specified transfer, or
(e)by reference to a combination of matters mentioned in paragraphs (b) to (d).
(4)Paragraph 2(3) of Schedule 12 to that Act shall not apply in respect of the transfer of property, rights or liabilities which—
(a)have been transferred under a scheme which provided for section 412(3) not to apply in relation to the transfer in reliance on subsection (1) above, or
(b)arise out of property, rights or liabilities transferred as described in paragraph (a).
(5)Before the date on which London Underground Limited becomes a subsidiary of Transport for London—
(a)section 217 of that Act (transfer of key system assets) shall have effect as if—
(i)the reference to Transport for London in subsection (1) included a reference to London Regional Transport, and
(ii)the list of bodies in subsection (2) included London Underground Limited and any subsidiary,
(b)section 221 of that Act (Public-Private Partnership administration order) shall have effect as if a reference to the Mayor were a reference to London Regional Transport,
(c)section 222 of that Act (restriction on winding-up Public-Private Partnership company) shall have effect as if a reference to the Mayor were a reference to London Regional Transport, and
(d)Schedules 14 and 15 to that Act (Public-Private Partnership administration order) shall have effect (including in so far as they modify another enactment) as if a reference to the Mayor were a reference to London Regional Transport.
(6)Section 425(3) of that Act (restriction on commencement of sections 220 to 224) shall cease to have effect.