9(1)A postal transfer scheme may contain provision—U.K.
(a)for the transfer of relevant statutory functions to a new company, or
(b)for relevant statutory functions to be exercisable concurrently by the old company and a new company (or companies).
(2)For this purpose “relevant statutory functions” means powers and duties conferred or imposed on the old company by or under an enactment so far as they are connected with—
(a)the undertaking of the old company to which the postal transfer scheme relates, or
(b)property, rights or liabilities transferred in accordance with the scheme.
(3)Provision within sub-paragraph (1) may apply to relevant statutory functions so far as exercisable in an area specified or described in the provision.
Commencement Information
I1Sch. 11 para. 9 in force at 1.10.2011 by S.I. 2011/2329, art. 3