SCHEDULES
SCHEDULE 10TRANSFERS UNDER ARTICLE 69
Third parties affected by vesting provisions
9
1
A transaction of any description which, under paragraph 3(2) or a direction under paragraph 3(4), is effected between transferee A and transferee B—
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 persons notwithstanding that it would, apart from this sub-paragraph, have required the consent or concurrence of any other person.
2
If any transaction is effected under paragraph 3(2) or a direction under paragraph 3(4), transferee A and transferee B shall notify any person who has rights or liabilities which thereby become enforceable as to part by or against transferee A and as to part by or against transferee B.
3
If, within 28 days from being notified, such a person as is mentioned in sub-paragraph (2) applies to, and satisfies, the Department that the transaction operated unfairly against him, the Department may give such directions to transferee A and transferee B as appear to the Department appropriate for varying the transaction.
10
1
If in consequence of 2 or more transfers effected under a transfer scheme or anything done under the provisions of this Schedule—
a
the rights or liabilities of any person other than Northern Ireland Electricity and the transferees which were enforceable against or by Northern Ireland Electricity become enforceable as to part against or by one transferee and as to part against or by another transferee; and
b
the value of any property or interest of that person is thereby diminished,
such compensation as may be just shall be paid to that person by one or more of the transferees.
2
Any dispute as to whether, and if so how much, compensation is payable under sub-paragraph (1), or as to the person to or by whom it shall be paid, shall be referred to and determined by an arbitrator appointed by the Department.