270.—(1) The Department shall make a scheme (“the transfer scheme”) for the transfer to the successor company of—
(a)specified water service assets and water service liabilities of the Department; and
(b)such other assets and liabilities of the Department as may be specified.
(2) On such day as the Department may by order specify (the “transfer date”) the assets and liabilities specified for transfer to the successor company shall, by virtue of this paragraph, become assets and liabilities of that company.
(3) The provisions of Schedule 11 shall apply in relation to—
(a)the transfer scheme; and
(b)the transfer effected by paragraph (2);
and that paragraph shall have effect subject to the provisions of that Schedule.
(4) In this Article—
“specified” means specified in the transfer scheme;
“water service assets” and “water service liabilities” mean, respectively, the assets and liabilities which, either wholly or in part, subsist immediately before the transfer date for the purposes of, or in connection with, or are otherwise attributable to, the functions exercisable by the Department immediately before that date under the Water and Sewerage Services (Northern Ireland) Order 1973 (NI 2).