Part 1: Licensing of Carbon Dioxide Transport and Storage Chapter 5: Transfer Schemes Section 52: Conduct of transfer schemes
Section 52 applies Schedule 4, which describes the scope of what may be transferred and the process by which a transfer scheme may take place. In particular, a transfer scheme may provide for the transfer of any associated licences or permits e.g. any associated storage licence, and that powers and duties which are exercised or required to be performed in connection with the undertaking or property, rights or liabilities to be transferred may also be transferred. It is anticipated that this could be relied on, for example: to require the transferee to provide any necessary security as required in relation to any associated storage licence. The provisions set out the circumstances in which a transfer scheme may subsequently be modified.