Schedule 2, Part I, paragraph 8(2)

Any property, rights or liabilities held or subsisting partly for the purpose of the relevant part of the authority’s undertaking and partly for the purpose of another part shall, where the nature of the property, rights or liabilities permits, be divided or apportioned between the authority and the company in such proportions as may be appropriate; and where any estate or interest in land falls to be so divided, any rent payable under a lease in respect of that estate or interest, and any rent charged on that estate or interest, shall be correspondingly apportioned or divided so that the one part is payable in respect of, or charged on, only one part of the estate or interest and the other part is payable in respect of, or charged on, only the other part of the estate or interest.

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Source: legislation.gov.uk · retrieved 2026-07-30