Paragraph 1 refers to what may be transferred and makes specific provision for rights and liabilities related to contracts of employment to be transferred. Paragraph 1(2) also makes clear that a transfer scheme may create rights or interests, or impose liabilities, in relation to property transferred.
	Paragraph 2 provides that the power to make a scheme for the transfer of property may be exercised so as to create an interest in or right in relation to the property.
Commentary on provisions of the Act Schedule 31: Transfer schemes: further provisions Property, rights and liabilities