2(1)The Secretary of State may make a scheme (a “property transfer scheme”) providing for the transfer to the Charter body of designated properties, rights or liabilities of the company.E+W
(2)A property transfer scheme may—
(a)create rights, or impose liabilities, in relation to property or rights transferred by virtue of the scheme;
(b)provide for anything done by or in relation to the company in connection with any property, rights or liabilities transferred by the scheme to be treated as done, or to be continued, by or in relation to the Charter body;
(c)apportion property, rights and liabilities;
(d)make provision for the shared ownership or use of property;
(e)make provision about the continuation of things (including legal proceedings) in the process of being done by, on behalf of or in relation to the company in respect of anything transferred.
(3)The things that may be transferred by a property transfer scheme include—
(a)property, rights and liabilities that could not otherwise be transferred, and
(b)property acquired, and rights and liabilities arising, after the making of the scheme.
Commencement Information
I1Sch. 1 para. 2 in force at 13.12.2017 by S.I. 2017/1228, reg. 3(a)