In this Schedule—

• “franchise company” means any body corporate which is, or is to be, the franchisee or the franchise operator under a franchise agreement,

• “transfer scheme” means a scheme under paragraph 1 or 2,

• “transferor” means the person from whom property, rights or liabilities are transferred by a transfer scheme, and

• “transferee” means the person to whom any such property, rights or liabilities are so transferred.