1E+WSubject to paragraph 3 below, the Secretary of State and the Council concerned or, in the case of property or liabilities acquired or incurred by the Councils jointly, the Secretary of State and both the Councils may agree, on such terms as they think fit—
(a)that any property or liabilities (except loans and loan charges) acquired or incurred by that Council, or by the Councils jointly, for the purposes of any of their functions in relation to the tunnel crossing or the tunnel approaches, other than property or liabilities otherwise transferred by virtue of section 6 or 7 of this Act, shall be transferred to him; or
(b)that any property or liabilities transferred to the Secretary of State by virtue of section 6 shall be transferred back to the transferor.
2(1)Subject to sub-paragraph (2) and paragraph 3 below, where section 7 of this Act applies the Secretary of State may direct—E+W
(a)that any such property or liabilities as are mentioned in paragraph 1(a) above shall be transferred to him or to the person appointed under section 11 of this Act to levy tolls; or
(b)that any property or liabilities transferred to the Secretary of State or to that person by virtue of section 6 or 7 of this Act—
(i)shall be transferred back to the transferor; or
(ii)in the case of property or liabilities transferred to the Secretary of State, shall be transferred to the person appointed; or
(iii)in the case of property or liabilities transferred to that person, shall be transferred to the Secretary of State;
and any property which is the subject of a direction under this paragraph is transferred and vests by virtue of this paragraph in the person to whom in accordance with the direction it is to be transferred.
(2)Before giving a direction under sub-paragraph (1) above, the Secretary of State shall consult the Councils and, if he proposes to give a direction with respect to a transfer to or from the person appointed, that person.
3E+WParagraphs 1(b) and 2(1)(b) above do not apply in relation to—
(a)the tunnel crossing;
(b)the tunnel approaches; or
(c)any easement or right in or over land.
4E+WAny property—
(a)vested by virtue of section 6 of this Act or paragraph 2 above in the Secretary of State; or
(b)vested by virtue of section 7 of this Act or paragraph 2 above in the person appointed under section 11 of this Act to levy tolls;
shall be held by the transferee subject to all covenants, conditions and restrictions subject to which the property was held by the transferor and to all liabilities affecting the property, except liabilities excluded from transfer by section 6(3)(a).
5E+WAny dispute as to the effect of any transfer under section 6 or 7 of this Act or paragraph 2 above shall be determined by arbitration.
6E+WThe Councils shall produce to the Secretary of State such documents and furnish to him such other information relating to—
(a)their functions in relation to the tunnel crossing or the tunnel approaches; and
(b)any property and liabilities of theirs in respect of the tunnel crossing or the tunnel approaches;
as he may require.