Schedule 2, Part II, paragraph 5(1)

For the purpose of making any division of property, rights or liabilities which it is considered appropriate to make in connection with the transfer of property, rights and liabilities by and in accordance with a transfer scheme, any such scheme may— and references in the other provisions of Part I of this Act to the transfer of property, rights or liabilities (so far as relating to transfers by and in accordance with transfer schemes) shall accordingly be construed as including references to the creation of any interest, right or liability by virtue of paragraph (a), (b) or (c) above or the making of provision by virtue of paragraph (d) above. create in favour of the transferor an interest in, or right over, any property transferred by the scheme; create in favour of the relevant new Agency an interest in, or right over, any property retained by the transferor; create new rights and liabilities as between the relevant new Agency and the transferor; or in connection with any provision made by virtue of paragraph (a), (b) or (c) above, make incidental provision as to the interests, rights and liabilities of persons other than the transferor and the relevant new Agency with respect to the subject-matter of the transfer scheme;

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