Part IV Transport
Chapter II Transport for London
Property and subsidiaries
165 Distribution of property, rights and liabilities.
1
Transport for London may make schemes for the transfer of property, rights and liabilities—
a
between Transport for London and any subsidiary of Transport for London; or
b
between any subsidiary of Transport for London and any other such subsidiary.
2
A scheme under this section shall not take effect unless and until it has been approved by the Mayor.
3
Where a scheme under this section is submitted to the Mayor for his approval, he may, after consultation with Transport for London, modify the scheme before approving it.
4
Schedule 12 to this Act (which makes further provision in relation to schemes under this section) shall have effect.