2(1)A scheme may provide for the transfer of any property, rights or liabilities, whether or not otherwise capable of being transferred or assigned.E+W+S+N.I.
(2)A scheme may provide for the transfer of any property, rights or liabilities to take effect regardless of any such—
(c)interference with an interest or right,
as there would be (apart from this sub-paragraph) by reason of an inhibiting provision.
(3)For the purposes of sub-paragraph (2) an “inhibiting provision” is a provision having effect (whether under an enactment or an agreement or in any other way) in relation to the terms on which the transferor is entitled to the property or right, or is subject to the liability, that is the subject of the transfer.