(1)This section applies to any scheme under section 4, 5 or 9(6) of this Act (referred to below in this section as a transfer scheme).
(2)A transfer scheme may define the property, rights and liabilities to be transferred by the scheme—
(a)by specifying the property, rights and liabilities in question; or
(b)by referring to all the property, rights and liabilities comprised in a specified part of the transferor’s undertaking;
and may contain such supplementary, incidental and consequential provisions as may appear to London Regional Transport to be necessary or expedient.
(3)Without prejudice to section 47 of this Act and subject to subsection (4) below, a transfer scheme may provide that any functions of the transferor under any statutory provision shall be transferred with the property, rights and liabilities affected by the scheme, if and so far as that statutory provision—
(a)relates to the part of the transferor’s undertaking, or to property, to be transferred by the scheme; or
(b)authorises the carrying out of works designed to be used in connection with that part of the transferor’s undertaking or the acquistion of land for the purpose of carrying out such works.
(4)Subsection (3) above does not apply to any function of London Regional Transport, or of London Regional Transport or any subsidiary of theirs, under any provision of this Act or any other statutory provision specifically amended by any provision of this Act.
(5)A transfer scheme may define any functions of the transferor to be transferred by the scheme in accordance with subsection (3) above—
(a)by specifying the statutory provisions in question;
(b)by referring to all the statutory provisions (except those mentioned in subsection (4) above) which relate to the part of the transferor’s undertaking, or to property, to be transferred by the scheme or authorise the carrying out of works designed to be used in connection with that part of the transferor’s undertaking or the acquisition of land for the purpose of carrying out such works; or
(c)by referring to all the statutory provisions within paragraph (b) above, but specifying certain excepted provisions.
(6)A transfer scheme shall not come into force until it has been approved by the Secretary of State or until such date as the Secretary of State may, in giving his approval, specify; and the Secretary of State may approve a transfer scheme either without modifications or with such modifications as, after consultation with London Regional Transport, he thinks fit.
(7)On the coming into force of a transfer scheme the property, rights and liabilities affected by the scheme shall, subject to subsection (8) below, be transferred and vest in accordance with the scheme.
(8)Subject to subsection (9) below, Schedule 4 to the 1968 Act (supplementary provisions as to certain transfers of property, rights and liabilities) shall apply to any transfer under subsection (7) above; and subsection (7) above shall have effect subject to the provisions of that Schedule.
(9)In Schedule 4 as it applies by virtue of subsection (8) above—
(a)any reference to a transfer by or a vesting by virtue of that Act shall be read as a reference to a transfer by or a vesting by virtue of the transfer scheme in question; F1. . .
[F2(aa)the reference in paragraph 1(1) to all property, rights and liabilities comprised in a specified part of the transferor’s undertaking shall be read as including a reference to all such property, rights and liabilities subject to such exceptions as may be specified or described, or otherwise provided for, by the transfer scheme in question;
F2(ab)the reference in paragraph 13(1) to requiring the consent or concurrence of any person shall be read as including—
(i)a reference to being (and, where applicable, continuing after the transaction) in breach of any condition, requirement or restriction, and
(ii)a reference to any relevant right or option operating or becoming exercisable,
(and any such relevant right or option shall accordingly have effect as if the transferee were the same person in law as the transferor and no transaction had taken place); and]
(b)the reference in paragraph 13(5) to the relevant provisions of that Act shall be read as including a reference to the relevant provisions of this Act.
[F3(10)In subsection (9)(ab) above “relevant right or option” means any right of reverter, right of pre-emption, right of forfeiture, right of re-entry, right to compensation, option or similar right affecting any land or other property, or any right to terminate or vary a contract.]
Textual Amendments
F1Word in s. 27(9)(a) omitted (12.1.2000) by 1999 c. 29, s. 172(1)(2)(with Sch. 12 para. 9(1)); S.I. 1999/3434, art. 2
F2S. 27(9)(aa)(ab) inserted (12.1.2000) by 1999 c. 29, s. 172(1)(2)(with Sch. 12 para. 9(1)); S.I. 1999/3434, art. 2
F3S. 27(10) inserted (12.1.2000) by 1999 c. 29, s. 172(1)(3)(with Sch. 12 para. 9(1)); S.I. 1999/3434, art. 2
Textual Amendments applied to the whole legislation
F4Act repealed (prosp.) by 1999 c. 29, ss. 423, 425(2), Sch. 34 Pt. II (with Sch. 12 para. 9(1))