15(1)For the purposes of this paragraph a person is a party if—U.K.
(a)he is the transferor (or one of the transferors) under a transfer scheme and holds an interest in land immediately after the scheme comes into force, or
(b)he is the transferee (or one of the transferees) under the scheme and an interest in land is transferred to him under the scheme.
(2)For the purposes of this paragraph the relevant land is any land in which any party has an interest immediately after the scheme comes into force.
(3)On the representation of any of the parties the Secretary of State may give to the parties a direction stating that sub-paragraph (4) is to apply to such of the relevant land as the direction specifies.
(4)While the direction remains in force—
(a)no party may dispose of an interest in any of the specified land unless the Secretary of State consents;
(b)if a party proposes to dispose of such an interest and the Secretary of State thinks it necessary or expedient to exercise any of the powers set out in sub-paragraph (5) for the protection of any other party, the Secretary of State may exercise any of those powers.
(5)The powers are—
(a)power to consent to the proposed disposal subject to compliance with such conditions as the Secretary of State may see fit to impose;
(b)power to require a party to dispose of an interest in any of the specified land to such person and in such manner as may be specified in the requirement;
(c)power to require a party to acquire another party’s interest in any of the specified land.
(6)In sub-paragraph (5)(b) and (c) references to an interest include (but are not limited to) references to the interest whose disposal is proposed.
(7)A person who is not a party and who is dealing with a party (or with a person claiming under a party) in relation to land is not to be concerned to see or enquire—
(a)whether this paragraph applies (or has applied) in relation to any of the land;
(b)whether a direction under this paragraph has been given in relation to any of the land;
(c)whether this paragraph or any condition imposed or requirement made under it has been complied with in connection with the dealing or any other dealing concerning any of the land.
(8)No transaction between a person who is not a party (on the one hand) and a party or a person claiming under a party (on the other) is to be invalid by reason of any failure to comply with this paragraph or any condition imposed or requirement made under it.
Commencement Information
I1Sch. 6 paras. 1-25 wholly in force at 1.2.2001, see s. 275(1) and S.I. 2001/57, art. 3(1), Sch. 2 Pt. I (subject to the transitional provision and saving in Sch. 2 Pt. II)