SCHEDULES
SCHEDULE 6 Transfer schemes
Third parties
I119
1
This paragraph applies if—
a
an agreement is made by the parties under paragraph 5 or 9 or treated as made under paragraph 6 or 10, or
b
an instrument is executed by the parties under paragraph 9.
2
The agreement or instrument is to bind all other persons even if it would (apart from this sub-paragraph) have required the consent or concurrence of any other person.
3
If as a result of the agreement or instrument the rights or liabilities of a person who is not a party become enforceable as to part against or by one party and as to part against or by another party—
a
the parties must notify that person of the agreement or instrument;
b
that person may within the period of 28 days (starting with the day he is notified) apply to the Secretary of State to give a direction to vary the agreement or instrument.
4
If the Secretary of State is satisfied that the agreement or instrument operated unfairly against that person, the Secretary of State may give a direction to the parties requiring them to vary the agreement or instrument in a way specified in the direction.