Housing and Regeneration Act 2008

51 Property 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).