1E+WA scheme may—
(a)create for the transferor interests in or rights over property transferred by virtue of the scheme;
(b)create for the transferee interests in or rights over property retained by the transferor;
(c)create rights or liabilities between the transferor and the transferee.
Commencement Information
I1Sch. 3 para. 1 in force at 1.10.2006 by S.I. 2006/2541, art. 2 (with Sch.)
2(1)A scheme may provide for the transfer of property, rights or liabilities that would not otherwise be capable of being transferred or assigned.E+W
(2)In particular, it may provide for the transfer to take effect regardless of a contravention, liability or interference with an interest or right that would otherwise exist by reason of a provision having effect in relation to the terms on which the transferor is entitled to the property or right, or subject to the liability, in question.
(3)It does not matter whether the provision referred to in sub-paragraph (2) has effect under an enactment or an agreement or in any other way.
Commencement Information
I2Sch. 3 para. 2 in force at 1.10.2006 by S.I. 2006/2541, art. 2 (with Sch.)
3E+WA certificate by the Secretary of State that anything specified in the certificate has vested in any person by virtue of a scheme is conclusive evidence for all purposes of that fact.
Commencement Information
I3Sch. 3 para. 3 in force at 1.10.2006 by S.I. 2006/2541, art. 2 (with Sch.)