6E+WA transfer scheme may transfer—
(a)property, rights and liabilities that could not otherwise be transferred;
(b)property acquired, and rights and liabilities arising, after the making of the scheme.
Commencement Information
I1Sch. 2 para. 6 in force at 31.1.2019 by S.I. 2018/1161, reg. 3(b)
[F16A(1)A transfer scheme may not transfer property which is subject to a security (other than a floating charge) free of that security except—E+W
(a)in accordance with an order of the court under paragraph 71 of Schedule B1 to the Insolvency Act 1986 as applied by Schedule 3 or 4, or
(b)where—
(i)an amount is attributed to the transfer of the property in the transfer scheme,
(ii)the secured creditor agrees with that amount, and
(iii)the secured creditor is paid that amount.
(2)In sub-paragraph (1), “floating charge” means a charge which is a floating charge on its creation.]
Textual Amendments
F1Sch. 2 para. 6A inserted (28.6.2022) by Skills and Post-16 Education Act 2022 (c. 21), ss. 25(2), 36(2)
7(1)A transfer scheme may make consequential, supplementary, incidental or transitional provision and may in particular—E+W
(a)create rights, or impose liabilities, in relation to property or rights transferred;
(b)make provision about the continuing effect of things done by the transferor in respect of anything transferred;
(c)make provision about the continuation of things (including legal proceedings) in the process of being done by, on behalf of or in relation to the transferor in respect of anything transferred;
(d)make provision for references to the transferor in an instrument or other document in respect of anything transferred to be treated as references to the transferee;
(e)make provision for the shared ownership or use of property;
(f)if the TUPE regulations do not apply in relation to the transfer, make provision which is the same or similar.
(2)In sub-paragraph (1)(f) “TUPE regulations” means the Transfer of Undertakings (Protection of Employment) Regulations 2006 (SI 2006/246).
(3)A transfer scheme may modify the interests, rights or liabilities of third parties in relation to anything to which the scheme relates.
(4)The reference here to third parties is to persons other than the transferor and transferee.
Commencement Information
I2Sch. 2 para. 7 in force at 31.1.2019 by S.I. 2018/1161, reg. 3(b)