Transitional arrangements and asset transfers

Foreign property etc, perfection of vesting7.

(1)

Subsections (2) to (8) of section 414 of the Greater London Authority Act 199914 (foreign property, rights and liabilities: perfection of vesting) apply to the transfer by this Order of any foreign property, rights or liabilities.

(2)

In the application of those provisions by virtue of paragraph (1)—

(a)

references to a transfer or pension instrument have effect as references to the transfer by or under this Order; and

(b)

references to the transferor and the transferee are to be construed accordingly.