Financial Services Act 2012

Transfer schemes

This section has no associated Explanatory Notes

9A transfer scheme may—

(a)apportion, or provide for the apportionment of, property, rights and liabilities,

(b)define the property, rights and liabilities to be transferred by specifying them or by describing them (including describing them by reference to functions that are transferred by the order falling within paragraph 7(1));

(c)contain provision for the payment of compensation by the FCA to the OFT;

(d)contain provision for the payment of compensation by the OFT or the FCA to any person whose interests are adversely affected by the scheme;

(e)contain supplemental, incidental, transitional and consequential provision.