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Export and Investment Guarantees Act 1991

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8 Scheme of transfer.U.K.

(1)The Secretary of State may make a scheme or schemes for the transfer to any person or persons of such property, rights and liabilities as are specified in or determined in accordance with the scheme, being property, rights or liabilities—

(a)to which the Secretary of State (or, in the case of copyright, Her Majesty) is entitled or subject immediately before the day on which the scheme providing for the transfer comes into force, and

(b)which then subsisted for the purposes of or in connection with or are otherwise attributable (wholly or partly) to the exercise of functions under Part I of this Act or the old law.

(2)Without prejudice to the generality of subsection (1)(b) above, any property, rights or liabilities shall be taken to fall within that subsection if the Secretary of State issues a certificate to that effect.

(3)A scheme under this section may apply—

(a)to property wherever situated, and

(b)to property, rights and liabilities whether or not otherwise capable of being transferred or assigned by the Secretary of State or, as the case may be, Her Majesty.

(4)A scheme under this section shall come into force on such day as may be specified in, or determined in accordance with, the scheme; and on that day the property, rights and liabilities to which the scheme applies shall be transferred and vest in accordance with the scheme.

(5)A scheme under this section may contain such supplementary, incidental, consequential or transitional provisions as appear to the Secretary of State to be necessary or expedient.

(6)The Schedule to this Act (scheme of transfer: supplementary provisions) shall have effect.

(7)References below in this Act to a transferee are to any person to whom anything is transferred by virtue of a scheme under this section.

Commencement Information

I1S. 8 wholly in force at 23.10.1991 see s. 15(6) and S.I. 1991/2430, art. 2

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