Part II Transfer Schemes
Environment Act 1995 (1995 c 25) | Legislation

Part II Transfer Schemes

Description of the property etc to be transferred by scheme

4

A transfer scheme may define the property, rights and liabilities to be transferred by the scheme—

(a)     by specifying or describing the property, rights and liabilities in question;

(b)     by referring to all (or all but so much as may be excepted) of the property, rights and liabilities comprised in a specified part of the undertaking of the transferor; or

(c)     partly in the one way and partly in the other.

Division of property etc to be transferred by scheme: creation of new rights and interests

5

(1)     For the purpose of making any division of property, rights or liabilities which it is considered appropriate to make in connection with the transfer of property, rights and liabilities by and in accordance with a transfer scheme, any such scheme may—

(a)     create in favour of the transferor an interest in, or right over, any property transferred by the scheme;

(b)     create in favour of the relevant new Agency an interest in, or right over, any property retained by the transferor;

(c)     create new rights and liabilities as between the relevant new Agency and

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