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The Lifecare National Health Service Trust (Transfer of Trust Property) Order 1991

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Transfer of Trust Property

2.—(1) On the transfer date there shall be transferred to the Trust from the Authority—

(a)subject to paragraphs (2) to (6) of this article, the balances held in the trust funds specified in Appendix 1 to the Agreement,

(b)the investments specified in Appendix 2 to the Agreement.

(2) Where the overall percentage change differs from the specific percentage change, the trust fund balances shall be altered in accordance with paragraphs (3) to (6) of this article.

(3) There shall be taken the difference between—

(a)the value of the specified investments at the end of the relevant period “the actual value”; and

(b)the value of the specified investments at the beginning of the relevant period adjusted by the overall percentage change “the notional value”.

(4) Where the notional value exceeds the actual value, the aggregate value of the trust fund balances shall be increased by the amount of the excess.

(5) Where the notional value falls short of the actual value, the aggregate of the trust fund balances shall be reduced by the amount of the shortfall.

(6) The amount of any increase or reduction shall be allocated to each of the trust fund balances in the same proportion as that balance bears to the aggregate of the trust fund balances.

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