SCHEDULES

SCHEDULE 1DBE: scheme for designation

General provisions

6

1

A scheme under section 3 may include provision—

a

for the transfer of property or rights for which provision is not made in paragraphs 1 to 3;

b

for the transfer of rights and liabilities under or in connection with a contract of employment;

c

for the transfer of other rights and liabilities.

2

For the purposes of sub-paragraph (1)(a), the scheme may provide for property which was held on trust immediately before the transfer to continue to be held subject to the same trusts.

3

But any property which was held immediately before the transfer as permanent endowment is, if the transferee is a company limited by guarantee or CIO, to be held by the transferee as corporate trustee.