Section 112 | Effect Of Order Sanctioning Business Transfer Scheme | Financial Services And Markets Act 2000 C8

112 Effect of order sanctioning business transfer scheme

Financial Services and Markets Act 2000 (2000 c 8) | Legislation

112 Effect of order sanctioning business transfer scheme

(1) If the court makes an order under section 111(1), it may by that or any subsequent order make such provision (if any) as it thinks fit—

(a) for the transfer to the transferee of the whole or any part of the undertaking concerned and of any property or liabilities of [the transferor concerned];

(b) for the allotment or appropriation by the transferee of any shares, debentures, policies or other similar interests in the transferee which under the scheme are to be allotted or appropriated to or for any other person;

(c) for the continuation by (or against) the transferee of any pending legal proceedings by (or against) [the transferor concerned];

(d) with respect to such incidental, consequential and supplementary matters as are, in its opinion, necessary to secure that the scheme is fully and effectively carried out.

(2) An order under subsection (1)(a) may—

(a) transfer property or liabilities whether or not [the transferor concerned] otherwise has the capacity to effect the transfer in question;

(b) make provision in relation to property which was held by [the transferor concerned] as trustee;