PART 8London
CHAPTER 2Mayoral development corporations
Dissolution
216Transfers of property, rights and liabilities
(1)
The Mayor may at any time make a scheme (a “transfer scheme”) transferring to a permitted recipient, upon such terms as the Mayor considers appropriate, any property, rights or liabilities which are for the time being vested in an MDC.
(2)
A transfer scheme may provide for a transfer to a person within paragraph (d), (e) or (f) of the definition of “permitted recipient” in subsection (4) only if the person consents.
(3)
The Mayor must publish a transfer scheme as soon after it is made as is reasonably practicable.
(4)
In this section—
“company” means—
(a)
a company within the meaning given by section 1(1) of the Companies Act 2006, or
(b)
a society registered or deemed to be registered under the Co-operative and Community Benefit Societies and Credit Unions Act 1965 or the Industrial and Provident Societies Act (Northern Ireland) 1969;
“functional body” has the meaning given by section 424(1) of the Greater London Authority Act 1999;
“permitted recipient” means—
(a)
the Greater London Authority,
(b)
a functional body other than the MDC concerned,
(c)
a company that is a subsidiary of the Greater London Authority,
(d)
a London borough council,
(e)
the Common Council of the City of London, or
(f)
any other person;
“subsidiary” has the meaning given by section 1159 of the Companies Act 2006.