http://www.legislation.gov.uk/nisi/1994/426/article/52/madeThe Airports (Northern Ireland) Order 1994Road safetyGovernment Printer for Northern Ireland2015-03-02NORTHERN IRELANDIn this Order—Parts II and III re-enact with amendments the Aerodromes Act (Northern Ireland) 1971. New provision is made for consultation by certain airport operators with users of airports and other affected interests (Article 20);Part IV provides for the regulation of airport charges at certain airports and the imposition by the CAA of conditions in relation to such airports;Part V provides for the vesting of certain assets and liabilities of Northern Ireland Airports Limited and of the airport assets of the Northern Ireland Transport Holding Company in a company nominated by the Department or in the Department.PART VTRANSFER OF UNDERTAKING OF NORTHERN IRELAND AIRPORTS LIMITEDReorganisation of certain assets and liabilities of NIAL and the Holding Company
The reorganisation scheme52.(1)

Before such date as the Department may direct, the Holding Company shall make a scheme (referred to in this Article and Article 53 as the “reorganisation scheme”) for—

(a)

the transfer to the Holding Company of the estate of NIAL in specified land;

(b)

the surrender by NIAL of any specified lease; and

(c)

the granting by the Holding Company to NIAL of a lease of specified land on specified terms.

(2)

On the specified day—

(a)

the estate of NIAL in any land specified under paragraph (1)(a) shall, by virtue of this paragraph, vest in the Holding Company; and

(b)

any lease specified under paragraph (1)(b) shall be deemed to have been surrendered by NIAL.

(3)

It shall be the duty of the Holding Company and of NIAL before the transfer date to enter into a lease of land specified under paragraph (1)(c) on terms so specified.

(4)

The reorganisation scheme may make such supplementary, incidental and consequential provisions as the Holding Company considers appropriate.

(5)

In this Article “specified” means specified in the reorganisation scheme.

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Reorganisation of certain assets and liabilities of
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Before such date as
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the transfer to the Holding Company of the estate of
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the surrender by
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the granting by the Holding Company to
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the estate of
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any lease specified under paragraph (1)(b) shall be deemed to have been surrendered by
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It shall be the duty of the Holding Company and of
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