Transfer schemes under Article 69
70.—(1) A transfer scheme may—
(a)define the assets and liabilities to be allocated to a particular successor company—
(i)by specifying or describing the assets and liabilities in question;
(ii)by referring to all the assets and liabilities comprised in a specified part of Northern Ireland Electricity’s undertaking; or
(iii)partly in the one way and partly in the other;
(b)provide that any assets or liabilities specified or described in the scheme shall be enforceable either by or against either or any, or by or against both or all, of 2 or more successor companies;
(c)impose on any successor company an obligation to enter into such written agreements with, or execute such other instruments in favour of, any other successor company as may be specified in the scheme; and
(d)make such supplemental, incidental and consequential provision as Northern Ireland Electricity considers appropriate (including provision specifying the order in which any transfers or transactions are to be regarded as taking effect).
(2) An obligation imposed by a provision included in a transfer scheme under paragraph (1)(c) shall be enforceable by civil proceedings by the other successor company for an injunction or for any other appropriate relief.
(3) A transaction of any description which is effected under such a provision as is mentioned in paragraph (2)—
(a)shall have effect subject to the provisions of any statutory provision which provides for transactions of that description to be registered in any statutory register; but
(b)subject to that, shall be binding on all other persons, notwithstanding that it would, apart from this paragraph, have required the consent or concurrence of any other person.
(4) Where a lease of any land is granted in pursuance of such a provision as is mentioned in paragraph (2), any right or obligation affecting that land—
(a)shall not become exercisable or enforceable by reason of the grant of the lease; but
(b)shall have effect as if the lessee were the same person in law as the lessor.
(5) It is hereby declared that the provisions of a transfer scheme in so far as they relate to any asset or liability of Northern Ireland Electricity in which there is a Crown interest bind the Crown, including the Crown in right of Her Majesty’s Government in the United Kingdom to the full extent authorised or permitted by the constitutional laws of Northern Ireland.