4(1)The property, rights and liabilities capable of being transferred in accordance with a scheme under paragraph 3 shall include property, rights and liabilities that would not otherwise be capable of being transferred or assigned by the Bank.U.K.
(2)The transfers authorised by sub-paragraph (1) include transfers which are to take effect as if there were—
(a)no such requirement to obtain any person’s consent or concurrence,
(b)no such liability in respect of a contravention of any other requirement, and
(c)no such interference with any interest or right,
as there would be, in the case of any transaction apart from this Act, by reason of provisions having effect (whether under any enactment or agreement or otherwise) in relation to the terms on which the Bank is entitled or subject in relation to any property, right or liability.