SCHEDULES
SCHEDULE 12Transfer schemes
Part 4General provisions about transfer schemes
Identifying what is transferred or created by a scheme
7
(1)
A scheme may define property, rights or liabilities for whose transfer it provides—
(a)
by specifying it or them;
(b)
by describing it or them.
(2)
A scheme may define retained property for the purposes of provision made under paragraph 6(1)(b)—
(a)
by specifying it;
(b)
by describing it.
(3)
A description of property, rights or liabilities may be framed (in particular)—
(a)
by reference to the transferor's undertaking;
(b)
by reference to a specified part of that undertaking.