SCHEDULE 31 Transfer Schemes

SCHEDULE 31 Transfer Schemes

Section 409

Interpretation

1

In this Schedule—

“Crown scheme†means a scheme under subsection (1) of section 409 of this Act;

“ordinary scheme†means a scheme under subsection (2) of section 409 of this Act;

“predecessor bodies†means the bodies or persons falling within subsection (3) of section 408 of this Act;

“successor bodies†means the bodies or persons falling within subsection (2) of section 408 of this Act;

“transfer scheme†means a Crown scheme or an ordinary scheme.

Effect of transfer scheme

2

(1)     A transfer scheme shall by virtue of this paragraph take effect in accordance with the provisions of the scheme on such day or days as may be appointed by the scheme.

(2)     A transfer scheme may make provision for transfers to take effect at such time of day as may be specified in the scheme.

Other provision that may be contained in a Crown scheme

3

(1)     A Crown scheme may also contain provision—

(a)     for the creation, in relation to property which the scheme transfers, of an interest in or right over the property in favour of the transferor;

(b)

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