2(1)Subject to sub-paragraph (2) and paragraph 3 below, where section 7 of this Act applies the Secretary of State may direct—E+W
(a)that any such property or liabilities as are mentioned in paragraph 1(a) above shall be transferred to him or to the person appointed under section 11 of this Act to levy tolls; or
(b)that any property or liabilities transferred to the Secretary of State or to that person by virtue of section 6 or 7 of this Act—
(i)shall be transferred back to the transferor; or
(ii)in the case of property or liabilities transferred to the Secretary of State, shall be transferred to the person appointed; or
(iii)in the case of property or liabilities transferred to that person, shall be transferred to the Secretary of State;
and any property which is the subject of a direction under this paragraph is transferred and vests by virtue of this paragraph in the person to whom in accordance with the direction it is to be transferred.
(2)Before giving a direction under sub-paragraph (1) above, the Secretary of State shall consult the Councils and, if he proposes to give a direction with respect to a transfer to or from the person appointed, that person.