Valid from 01/04/2007
42(1)At the time appointed for the purpose by a scheme under paragraph 38 or 40—U.K.
(a)property, rights and liabilities for whose transfer the scheme provides,
(b)interests and rights for whose creation the scheme provides, and
(c)liabilities for whose imposition the scheme provides,
shall, by virtue of this sub-paragraph, be transferred or (as the case may be) created or imposed in accordance with the scheme.
(2)A scheme under paragraph 38 or 40 may appoint different times for the transfer, creation or imposition of different things.