7.—(1) The scheme must, in relation to each transfer for the purposes of the reorganisation of property, rights or liabilities of the Board, or of a subsidiary of the Board, specify (either individually or by reference to membership of a class) to whom the transfer is to be made.N.I.
(2) The scheme must not provide for the transfer of property, rights or liabilities of the Board, or of a subsidiary of the Board, to anyone who is not an eligible transferee.
(3) For the purposes of sub-paragraph (2), the following are eligible transferees—
(a)in relation to property, rights and liabilities of the Board, any body falling within Article 14(4)(a), (b) or (c);
(b)in relation to property, rights and liabilities of a subsidiary of the Board—
(i)any body falling within Article 14(4)(a), (b) or (c); and
(ii)the Board;
(c)in relation to property and rights of the Board, or of a subsidiary of the Board, persons who are, or have been, registered producers.