SCHEDULES
SCHEDULE 6 Transfer schemes
Allocation
I13
1
If the nature of the property, right or liability does not permit it to be apportioned as mentioned in paragraph 2(1), it must be taken to have been transferred to a transferee or retained by the transferor in accordance with the tests in sub-paragraphs (2) and (3).
2
In the case of an estate or interest in land the test is—
a
which one of the parties has the greater (or greatest) need of the estate or interest for business purposes, or
b
if it is not possible to say that one of them has the greater (or greatest) need, which one of them is likely to make more (or the most) use of the land.
3
In the case of any other property or any right or liability, the test is which one of the parties is likely—
a
to make more (or the most) use of the property, or
b
to be more (or the most) affected by the right or liability.
4
The tests in sub-paragraphs (2) and (3) must be applied at—
a
the time when the transfer scheme comes into force (or schemes come into force), or
b
if there are two or more schemes and they come into force at different times, the later or latest of the times.
5
The preceding provisions of this paragraph apply subject to any arrangements made by the parties as to the protection of the interests of any of them.