http://www.legislation.gov.uk/id/uksi/2013/687

Transfer of certain property, rights and liabilities to the Secretary of State2.

(1)

The property, rights and liabilities of British Shipbuilders are transferred to the Secretary of State.

(2)

The property and rights of the subsidiaries of British Shipbuilders are transferred to the Secretary of State.

(3)

The liabilities of the subsidiaries of British Shipbuilders are transferred to the Secretary of State.

(4)

For the purposes of paragraph (3) any subsidiary of British Shipbuilders that was dissolved before this article comes into force is to be treated as if it had not been so dissolved.