(1)This section applies to registration marks which either—
(a)have never been assigned to a vehicle, or
(b)have been assigned to a vehicle but (as a result of having been subsequently withdrawn) are not for the time being so assigned,
and which are such as the Secretary of State may from time to time determine.
(2)The Secretary of State may by regulations make a scheme providing for registration marks to which this section applies to be assigned to vehicles registered under this Act in the names of, or of the nominees of, persons who have acquired rights under the scheme to have the marks so assigned.
(3)Regulations under this section may, in particular, make provision—
(a)for a person to acquire a right under the scheme to have a particular registration mark to which this section applies assigned to a vehicle registered under this Act in his name, or in the name of some other person nominated by him in accordance with the scheme, on payment of such sum as is payable in accordance with the scheme—
(i)in respect of the acquisition of the right, and
(ii)where no charge is to be made by virtue of paragraph (m) in connection with an assignment pursuant to the right, in respect of such an assignment,
(b)with respect to—
(i)the manner in which agreements for the sale of such a right (a “relevant right”) may be effected,
(ii)the terms which may be contained in, or incorporated into, such agreements, and
(iii)rights and liabilities arising in connection with such agreements otherwise than under any such terms,
(c)for enabling the Secretary of State to determine as he thinks fit—
(i)the prices at which particular relevant rights are to be sold or the reserve prices applicable to the sale of any such rights, or
(ii)the manner in which any such prices are to be determined,
(d)with respect to the manner in which relevant rights are to be exercisable,
(e)for relevant rights to be exercisable only on a single occasion falling within a period prescribed by the regulations (subject to any provision made by virtue of paragraph (f)),
(f)for enabling or requiring the Secretary of State, on the payment to him of a fee prescribed by the regulations, to extend or (on one or more occasions) further extend any such period where—
(i)the conditions so prescribed are fulfilled, and
(ii)he thinks fit to do so in the circumstances of the case,
(g)for relevant rights to be non-transferable (but without prejudice to the vesting of any such right in a person by operation of law),
(h)with respect to the conditions which must be satisfied before a registration mark may be assigned to a vehicle pursuant to a relevant right,
(i)for authorising the Secretary of State to revoke a relevant right—
(i)if it appears to him that there are special reasons for doing so, or
(ii)in any other circumstances prescribed by the regulations,
(j)for allowing a person to be nominated when a relevant right is acquired or to be nominated at a later time,
(k)for allowing a different person to be nominated in place of a person already nominated,
(l)for the manner in which a nomination is to be made and for the payment of a fee prescribed by the regulations where a nomination is made in circumstances so prescribed,
(m)for the payment, in connection with the assignment of a registration mark pursuant to a relevant right, of such charge as is for the time being prescribed by virtue of section 25(1), and
(n)for so much of any sum paid by virtue of paragraph (a) in respect of the assignment of a registration mark to be retained, except where conditions prescribed by the regulations are fulfilled, whether or not there is such an assignment.
(4)Regulations under this section may (without prejudice to the generality of subsection (3)(b)) make provision for authorising the Secretary of State to make arrangements with other persons by which such persons—
(a)are given authority (whether irrevocable or otherwise) to act on his behalf in offering for sale, and entering into agreements for the sale of, relevant rights in the case of such registration marks, and during such periods, as he may determine,
(b)are required to account to him for sums due to him under such agreements (whether they have received any amounts due from the purchasers under the agreements or not), and
(c)may become entitled or subject to such rights or liabilities of the Secretary of State in connection with such agreements as may be prescribed by the regulations.
(5)Regulations under this section may exempt extensions or assignments of any class or description prescribed by the regulations from any fee or charge payable by virtue of subsection (3)(f) or (m).
(6)An extension or nomination is exempt from a fee payable by virtue of subsection (3)(f) or (l) if the Secretary of State considers it appropriate in the circumstances of the case.
(7)The assignment by the Secretary of State of a registration mark to a vehicle pursuant to a relevant right is without prejudice to the subsequent exercise by him, in relation to the mark, of any of his powers under section 23(2).