SCHEDULES
SCHEDULE 11Postal transfer schemes
Transfer etc of statutory functions
I19
1
A postal transfer scheme may contain provision—
a
for the transfer of relevant statutory functions to a new company, or
b
for relevant statutory functions to be exercisable concurrently by the old company and a new company (or companies).
2
For this purpose “relevant statutory functions” means powers and duties conferred or imposed on the old company by or under an enactment so far as they are connected with—
a
the undertaking of the old company to which the postal transfer scheme relates, or
b
property, rights or liabilities transferred in accordance with the scheme.
3
Provision within sub-paragraph (1) may apply to relevant statutory functions so far as exercisable in an area specified or described in the provision.