Section 129: Power to dissolve the Oil and Pipelines Agency by order
534.The Oil and Pipelines Agency is a statutory corporation set up for the purposes of exercising and performing functions assigned to it by the Oil and Pipelines Act 1985 (c.62). The primary function of the Agency is the management of the government pipe-line and storage system.
535.Because section 125 provides that the Secretary of State may sell, lease or transfer the government pipe-line and storage system or any part of it, subsection (1) provides that the Secretary of State may, by order, repeal the Oil and Pipelines Act 1985 and dissolve the Oil and Pipelines Agency.
536.Subsection (2) provides that if the Agency is dissolved under subsection (1), the Secretary of State may make a scheme for the transfer to the Secretary of State of property, rights and liabilities (a “transfer scheme”).
537.Subsection (3) provides that Schedule 13 makes further provision about such a transfer scheme.
538.Paragraph 1 of Schedule 13 makes further provision for the effect of a transfer scheme and for what the things that may be transferred under a transfer scheme include. Paragraph 2 provides that a transfer scheme may make certain kinds of provision.
539.Section 153 makes provision in relation to the modification of a transfer scheme and provides that a transfer scheme may make incidental, supplementary and consequential provision.
