Schedule 2, Part I, paragraph 8(4)

It shall be the duty of the authority and the company, before or after the vesting date, so far as practicable to enter into such written agreements, and to execute such other instruments, as are necessary or expedient to identify or define the property, rights and liabilities transferred to the company or retained by the authority and as will— afford to the authority and the company as against one another such rights and safeguards as they may require for the proper discharge of the authority’s functions and the proper carrying on of the company’s undertaking; and make, as from such date (not being earlier than the vesting date) as may be specified in that agreement or instrument, such clarifications and modifications of the division of the authority’s undertaking as will best serve the proper discharge of the authority’s functions and the proper carrying on of the company’s undertaking.

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