9BTransfer schemes under sections 1 and 9A: general provisions(1)

In this section “transfer scheme” means a scheme under section 1(3ZD) or 9A(7).

(2)

The things that may be transferred under a transfer scheme include—

(a)

property, rights and liabilities that could not otherwise be transferred, and

(b)

property acquired, and rights and liabilities arising, after the making of the scheme.

(3)

A transfer scheme may—

(a)

create rights, or impose liabilities, in relation to property or rights transferred;

(b)

make provision about the continuing effect of things done by, on behalf of or in relation to 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 new regulator;

(e)

make provision for the shared ownership or use of property;

(f)

make provision which is the same as or similar to the TUPE regulations;

(g)

make other consequential, supplementary, incidental or transitional provision.

(4)

A transfer scheme may provide—

(a)

for modifications by agreement;

(b)

for modifications to have effect from the date when the original scheme came into effect.

(5)

In subsection (3)(f), “the TUPE regulations” means the Transfer of Undertakings (Protection of Employment) Regulations 2006 (S.I. 2006/246).

(6)

For the purposes of this section—

(a)

references to rights and liabilities include rights and liabilities relating to a contract of employment;

(b)

references to the transfer of property include the grant of a lease.