The Research Councils (Transfer of Property etc.) Order 1994

General transfer of property, rights, liabilities and obligations from the SERC

6.—(1) Subject to any provision which is otherwise made by this Order, all land and rights or liabilities in relation to such land held acquired or incurred by the SERC shall be transferred to the EPSRC.

(2) All that land, and any immovable property on the land, which forms the interest of the SERC in the Polaris House Site shall be transferred to the EPSRC.

(3) Subject to any provision of this Order, all rights and liabilities arising in relation to any contract for goods or services to be provided by or to the SERC shall be transferred to the EPSRC.

(4) Subject to the provisions of this Order all rights and liabilities arising in relation to any activities of the SERC as a Research Council (except those referred to in paragraph (5) of this Article) and including any liability for a guarantee, indemnity or financial assistance by way of grant or otherwise shall be transferred to the EPSRC.

(5) All rights and liabilities arising in relation to any civil proceedings and concerning the activities of the SERC as a Research Council in the fields of astronomy and planetary science or the work of the Royal Observatories shall be transferred to the PPARC.

(6) Paragraphs (4) and (5) apply to a liability imposed by or under any statutory provision as they apply to a liability which is undertaken voluntarily.

(7) The monies constituting the final working balance of the SERC shall be transferred to the EPSRC, the PPARC, the BBSRC and the NERC in the proportions of 69.5%, 18.0%, 10.5% and 2.0% respectively.