Part 3: Secretary of State’s Powers to Transfer or Delegate Functions Section 107: Transfer schemes: taxation
Subsections (1), (2) and (3) set out that the Treasury may make provision to vary of the way in which a relevant tax has effect in relation to assets and liabilities that are transferred under a scheme made under section 106, and anything done for the purpose of, or in relation to a transfers. This includes tax exemption, or a modification of a tax provision, and will be specified in the scheme with Treasury consent.
	Subsection (4) sets out that regulations under this section are subject to annulment in pursuance of a resolution of the House of Commons.
	Subsections (5) states that references to the transfer of property in this section includes the grant of a lease.
	Subsection (6) sets out what the relevant taxes are and the meaning of tax provision for the purpose of this section.