(2) A “transfer scheme” is a scheme for the transfer of property, rights or liabilities
(or the creation of interests, rights or liabilities)—
(a) between companies within subsection (3), or
(b) between—
(i) a company within subsection (3), and
(ii) the Secretary of State or the Treasury (or a nominee of either of
them) or a company wholly owned by the Crown.
(3) A company is within this subsection if—
(a) it is the original holding company or a subsidiary of that company, and
(b) it is wholly owned by the Crown.
(4) A transfer scheme made by the original holding company has effect—
(a) only if approved by the Secretary of State, and
(b) subject to any modifications made by the Secretary of State.
(5) The Secretary of State must consult the original holding company—
(a) before making a transfer scheme, and
(b) before making any modifications of a transfer scheme made by the
company.
(6) The Secretary of State may direct the original holding company (if it is wholly
owned by the Crown) to make a transfer scheme in accordance with the
direction.
(7) Schedule 1 contains further provision about transfer schemes.
(8) Nothing in that Schedule is to be read as restricting the provision that may be
contained in transfer schemes.
(9) A company within subsection (3) must provide the Secretary of State with any
information or other assistance that the Secretary of State may reasonably
require for the purposes of, or in connection with, the exercise of any power
under this section or that Schedule.
(10) That duty overrides any contractual or other requirement to keep information
in confidence.
(11) That duty is enforceable in civil proceedings by the Secretary of State—
(a) for an injunction,
(b) for specific performance of a statutory duty under section 45 of the
Court of Session Act 1988, or
(c) for any other appropriate remedy or relief.
9 Transfer of employees otherwise than under transfer scheme
(1) This section applies if an agreement between companies within subsection (3)
provides for the transfer from one to the other of rights and liabilities under
contracts of employment.
(2) This section also applies if—
(a) employees of a company within subsection (3) (“company A”) are
provided to another company within that subsection (“company B”),
(b) an agreement between the companies provides for the employees to
cease to be provided to company B, and
(c) company B intends to employ the employees.