Schedule 2, Part III, paragraph 12(3)

Until the vesting in the relevant new Agency by, or by transfer scheme under, section 3 or 22 of this Act of any foreign property, right or liability is effective under the relevant foreign law, it shall be the duty of the transferor to hold that property or right for the benefit of, or to discharge that liability on behalf of, the relevant new Agency.

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