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Article 2
1. In section 147(1), omit the words from ““the 1990 Act”” to “1990;”.
2. In Schedule 5—
(a)omit paragraph 1(6);
(b)omit paragraph 4(3) and (4);
(c)omit paragraph 4(5) (b);
(d)in paragraph 4(6), for “Sub-paragraphs (2) to (4)” substitute “Sub-paragraph (2)”;
(e)in paragraph 6(3), after “the law” insert “of Guernsey or”;
(f)in paragraph 6(6), after “United Kingdom” insert “and Guernsey”;
(g)in paragraph 8(6), for the words from “determined—” onwards substitute the words “determined by an arbitrator appointed by the Bailiff”;
(h)For sub-paragraph (2) of paragraph 10, substitute—
“(2) In sub-paragraph (1), “transfer” includes—
(a)any transfer effected by or under an agreement or instrument entered into or executed in pursuance of an obligation contained in a transfer scheme by virtue of paragraph 2(1)(g);
(b)the creation of interests, rights or liabilities by or under any such agreement or instrument; and
(c)the creation of interests, rights or liabilities by virtue of any provision contained in a transfer scheme by virtue of paragraph 2;
and references to a transfer in accordance with a transfer scheme (or any description of transfer scheme) shall be construed accordingly.”.
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