High Speed Rail (London - West Midlands) Act 2017

Power to modify interests, rights and liabilities of third parties U.K.

9 (1) A transfer scheme may modify interests, rights or liabilities of third parties in relation to anything to which the scheme relates. U.K.

(2) In sub-paragraph (1), “"third party””, in relation to a scheme, means a person other than the transferor or a transferee.

10 (1) Where a person would (apart from this paragraph) have a qualifying entitlement in consequence of— U.K.

(a) property, rights or liabilities having been, or being likely to be, transferred under a transfer scheme,

(b) interests, rights or liabilities having been, or being likely to be, created under a transfer scheme, or

(c) anything else having been done, or being likely to be done, by or under a transfer scheme,

that entitlement is enforceable, in consequence of the circumstances mentioned in paragraph (a), (b) or (c), only to the extent specified in the scheme.

(2) In this paragraph, “"qualifying entitlement””, in relation to a transfer scheme, means an entitlement—

(a) to terminate, modify, acquire or claim an interest or right to which the transferor, or a subsidiary of the transferor, is entitled or subject, or

(b) to treat an interest or right to which the transferor, or a subsidiary of the transferor, is entitled or subject as modified or terminated.