4.—(1) On the transfer date there shall transfer to and vest in the Scottish Ministers—
(a)all rights and interests held by the Forestry Commissioners in—
(i)any land in Scotland;
(ii)any relevant timber;
(iii)any relevant corporeal moveable property;
(iv)any other property which is held, immediately before the transfer date, wholly or mainly for or in connection with the exercise of the functions of the Forestry Commissioners in or as regards Scotland;
(b)any liability of the Forestry Commissioners arising wholly or mainly in connection with the exercise, immediately before the transfer date, of their functions in or as regards Scotland.
(2) Paragraph (1) does not apply to any right, interest or liability held by the Forestry Commissioners in respect of the excepted property.
(3) In this article—
(a)a reference to a right or liability is a reference to a right or liability—
(i)which has arisen or otherwise exists immediately before the transfer date; or
(ii)which arises or otherwise comes into existence on or after the transfer date but does so in respect of any act or omission of, or in relation to, the Forestry Commissioners in connection with the exercise of their functions immediately before the transfer date in or as regards Scotland,
but does not include any right or liability in connection with any contract of employment of any employee of the Forestry Commissioners;
(b)“relevant timber” means timber—
(i)of the type mentioned in section 3(1)(b) and (3) of the 1967 Act; and
(ii)which is held, immediately before the transfer date, wholly or mainly for or in connection with the exercise of the functions of the Forestry Commissioners in or as regards Scotland;
(c)“relevant corporeal moveable property” means any corporeal moveable property—
(i)other than relevant timber; and
(ii)which is held, immediately before the transfer date, wholly or mainly for or in connection with the exercise of the functions of the Forestry Commissioners in or as regards Scotland.