Schedule 7, paragraph 5(1)

An FMI transfer scheme may contain provision— for the creation, in favour of the old company or the new company, of an interest or right in or in relation to property transferred in accordance with the scheme; for giving effect to a transfer to the new company by the creation, in favour of that company, of an interest or right in or in relation to property retained by the old company; for the creation of new rights and liabilities (including rights of indemnity and duties to indemnify) as between the old company and the new company; in connection with any provision made under this sub-paragraph, provision making incidental provision as to the interests, rights and liabilities of other persons with respect to the property, rights and liabilities to which the scheme relates.

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Source: legislation.gov.uk · retrieved 2026-09-04