SCHEDULE 8 Transfers by Transfer Scheme
Railways Act 1993 (1993 c 43) | Legislation

SCHEDULE 8 Transfers by Transfer Scheme

Section 97

Allocation of property, rights and liabilities

1

(1)ÌýÌýÌýÌý The provisions of this paragraph and paragraph 2 below shall have effect where a transfer to which this Schedule applies is a transfer of all (or of all but so much as may be excepted) of the property, rights and liabilities comprised in a specified part of the transferor's undertaking, but shall not apply to any such rights or liabilities under a contract of employment.

(2)ÌýÌýÌýÌý Any property, right or liability comprised partly in the part of the transferor's undertaking which is transferred to the transferee and partly in the part of that undertaking which is retained by the transferor shall, where the nature of the property, right or liability permits, be divided or apportioned between the transferor and the transferee in such proportions as may be appropriate; and, where any estate or interest in land falls to be so divided—

(a)ÌýÌýÌýÌý any rent payable under a lease in respect of that estate or interest, and

(b)ÌýÌýÌýÌý any rent charged on that estate or interest,

shall be correspondingly apportioned or divided

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