Part 1The Homes and Communities Agency

Chapter 5Supplementary

Abolition of existing bodies

I151Property etc. transfers to the HCA and the Welsh Ministers

1

The Secretary of State may make one or more schemes for—

a

the transfer to the HCA of designated property, rights or liabilities of—

i

the Urban Regeneration Agency,

ii

the Commission for the New Towns,

iii

a regional development agency (within the meaning of the Regional Development Agencies Act 1998 (c. 45)), or

iv

a Minister of the Crown, or

b

the transfer to the Welsh Ministers of designated property, rights or liabilities of—

i

the Urban Regeneration Agency, or

ii

the Commission for the New Towns.

2

On the transfer date, the designated property, rights or liabilities are transferred and vest in accordance with the scheme.

3

Schedule 6 (which makes further provision about the making of schemes) has effect.

4

In this section and in Schedule 6—

  • “designated” in relation to a scheme, means specified in, or determined in accordance with, the scheme,

  • “Minister of the Crown” has the same meaning as in the Ministers of the Crown Act 1975 (c. 26),

  • “the transfer date” means a date specified by a scheme as the date on which the scheme is to have effect.

5

Schedule 7 makes provision about the tax implications of schemes under this section (and schemes under section 65).