Point in time view as at 01/04/2016.
Transport Act 2000, Paragraph 12A is up to date with all changes known to be in force on or before 09 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.
[F112A(1)Where there is a transfer in accordance with a transfer scheme of—U.K.
(a)foreign property, or
(b)a foreign right or liability,
the Board and the Secretary of State must take all requisite steps to secure that the vesting of the foreign property, right or liability in the Secretary of State by this Act is effective under the relevant foreign law.
(2)Until the vesting of the foreign property, right or liability in the Secretary of State in accordance with the transfer scheme is effective under the relevant foreign law, the Board must—
(a)hold the property or right for the benefit of the Secretary of State; or
(b)discharge the liability on behalf of the Secretary of State.
(3)Nothing in sub-paragraph (1) or (2) prejudices the effect under the law of a part of the United Kingdom of the vesting of any foreign property, right or liability in the Secretary of State in accordance with a transfer scheme.
(4)References in this paragraph to foreign property, or to a foreign right or liability, are references to any property, right or liability as respects which an issue arising in any proceedings would be determined (in accordance with the rules of private international law) by reference to the law of a country or territory outside the United Kingdom.
(5)An obligation imposed under this paragraph in relation to property, rights or liabilities shall be enforceable as if contained in a contract between the Board and the Secretary of State.]
Textual Amendments
F1 Sch. 25 para. 12A and cross-heading inserted (24.7.2005) by Railways Act 2005 (c. 14), s. 60(2), Sch. 12 para. 17(8); S.I. 2005/1909, art. 2, Sch.
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