27 July 2010
6.Subsection (1) transfers the property (including heritable property), rights, interests, employees and liabilities of the Home to the Company. This means that all the assets of the
Home will be transferred to the Company. Similarly, any liabilities of the Home will transfer to the Company.
7.Subsection (2) provides, for the avoidance of doubt, that the Transfer of Undertakings (Protection of Employment) Regulations 2006 (S.I. 2006/246), which ensure all existing employment contracts transfer to the new charitable company, will apply to the proposed transfer.
8.Section 2 provides that the Home is dissolved and that the 1864 Act is repealed.
9.The four subsections confirm the legal consequences of the transfer referred to in section 1(1).
10.Section 4 defines the “transferor” as the Home and “the transferee” as the Company. The new Company has been incorporated as a company limited by guarantee under the name William Simpson’s, Company Number SC377149 and having its registered office at Caledonian Exchange, 19A Canning Street, Edinburgh EH3 8HE.
11.Subsection (1) confirms the short title of the Bill.
12.Subsection (2) provides that the Bill will come into force two months after Royal Assent.