Property, rights and liabilities that may be transferredE+W
2(1)The property, rights and liabilities that may be transferred by a scheme include—E+W
(a)property, rights and liabilities that would not otherwise be capable of being transferred or assigned;
(b)property acquired in the period after the making of the scheme and before it comes into force;
(c)rights and liabilities arising in that period;
(d)rights and liabilities arising after the scheme comes into force in respect of matters occurring before it comes into force;
(e)rights and liabilities under an enactment or EU instrument.
(2)A scheme may provide that transfers are to take effect irrespective of—
(a)any requirement to obtain a person's consent or concurrence,
(b)any liability in respect of a contravention of another requirement, or
(c)any interference with an interest or right,
which would otherwise apply.
(3)Sub-paragraph (4) applies where a person would otherwise be entitled, in consequence of anything done, or likely to be done, in connection with a scheme—
(a)to terminate, modify, acquire or claim an interest or right to which the transferor is entitled or subject, or
(b)to treat such an interest or right as modified or terminated.
(4)That entitlement is enforceable in relation to the interest or right—
(a)in consequence of what is done or likely to be done, and
(b)in corresponding circumstances arising after the transfer,
to the extent only that the scheme provides for it to be so enforceable.
Commencement Information
I1Sch. 3 para. 2 in force at 5.3.2015 by S.I. 2015/481, reg. 2(a)