SCHEDULES
SCHEDULE 12Transfer schemes
Part 4General provisions about transfer schemes
Effect of scheme
14
(1)
At the time appointed for the purpose by a scheme—
(a)
property, rights and liabilities for whose transfer the scheme provides, and
(b)
interests, rights and liabilities for whose creation the scheme provides,
shall, by virtue of this sub-paragraph, be transferred or (as the case may be) created in accordance with the scheme.
(2)
A scheme may appoint different times for the transfer or creation of different things.