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(1)The Nature Conservancy Council shall make one or more schemes (“transfer schemes”) for the division of all their property, rights and liabilities (other than rights and liabilities under the contracts of employment of their staff and in respect of the provision of pensions, allowances or gratuities) between the Councils.
(2)On the date appointed by a transfer scheme, the property, rights and liabilities of the Nature Conservancy Council which are the subject of the scheme shall, by virtue of this subsection, become property, rights and liabilities of the Councils to which they are allocated by the scheme.
(3)Part I of Schedule 10 to this Act shall have effect in relation to transfer schemes under this section.
(4)The rights and liabilities of the Nature Conservancy Council in respect of the provision of pensions, allowances and gratuities for or in respect of their members and employees or their former members or employees shall, on the date appointed under section 131(3) above, by virtue of this subsection, become rights and liabilities of the Secretary of State.
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