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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)in paragraph 3(1), for paragraph (d) substitute—
“(d)Property situated anywhere in the United Kingdom or the Isle of Man or elsewhere and rights and liabilities under the law of any part of the United Kingdom or the Isle of Man or any country or territory outside the United Kingdom and the Isle of Man, and”;
(c)in paragraph 3(1)(e), after “enactments” insert “(including any Act of Tynwald)”;
(d)omit paragraphs 4(3) and (4);
(e)omit paragraph 4(5)(b);
(f)in paragraph 4(6), for “Sub-paragraphs (2) to (4)” substitute “Sub-paragraph (2)”;
(g)in paragraph 6(3), after “the law” insert “of the Isle of Man or”;
(h)in paragraph 6(6), after “United Kingdom” insert “and the Isle of Man”;
(i)In paragraph 8(6), for the words from “determined—” onwards substitute the words “determined by an arbitrator appointed by the Lieutenant Governor of the Isle of Man”;
(j)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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