Schedule 2, paragraph 8(1)

Where, by virtue of an order or agreement under this Schedule, property is transferred to the appropriate agency on the terms that— any payment so made by the shall be deemed to be a capital payment or an annual payment, according as the amount in respect of which it is made was paid in or towards repayment of the loan or by way of interest thereon. the body from which it is transferred shall continue liable for the repayment of, and payment of interest on, any sum borrowed in connection with the property; and the appropriate agency shall make payments to that body in respect of amounts paid by that body by reason of its continuing so liable,

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