Transfer of ownership of certain assets and licences of BGÉ, and of Gaslink, to network company

1. (1) The ownership of those assets and licences of BGÉ, and of Gaslink, specified in the network transfer plan approved by the Minister under section14 is, by virtue of this paragraph, vested in the network company without the need for any conveyance, transfer, assignment or assurance.

(2) All legal proceedings relating to the assets and licences referred to in subparagraph (1) begun before the network transfer date by or against BGÉ or by or against Gaslink and pending immediately before that date are taken to be legal proceedings pending by or against the network company.

(3) Any act, matter or thing done or omitted to be done in relation to the assets and licences referred to in subparagraph (1) before the network transfer date by, to, or in respect of, BGÉ or Gaslink is (to the extent that that act, matter or thing has any effect) taken to have been done, or omitted to be done, by, to, or in respect of, the network company.

Transfer of certain rights and liabilities of BGÉ, and of Gaslink, to network company

2. (1) The rights and liabilities of BGÉ, and of Gaslink, specified in the transfer plan approved by the Minister under section 14 become the rights and liabilities of the network company.

(2) All legal proceedings relating to the rights or liabilities referred to in subparagraph (1) begun before the transfer date by or against BGÉ or by or against Gaslink and pending immediately before that date are taken to be legal proceedings pending by or against the network company.

(3) Any act, matter or thing done or omitted to be done in relation to the rights or liabilities referred to in subparagraph (1) before the transfer date by, to, or in respect of, BGÉ or Gaslink is (to the extent that that act, matter or thing has any effect) taken to have been done, or omitted to be done, by, to, or in respect of, the network company.

(4) A reference in any Act, statutory instrument or other document to BGÉ or Gaslink, to the extent that it relates to assets, licences, rights or liabilities that are vested in, or transferred to, the network company by the operation of section 16 and this Schedule, is to be read as, or as including, a reference to the network company.

Change of ownership of asset not to be regarded as giving rise to remedy

3. Change in the legal or beneficial ownership of any asset, licence, right or liability because of the operation of this Act and this Schedule becomes binding on all persons even if, apart from this Act, the consent or concurrence of any other person would have been required. Such a change is not to be regarded as giving rise to any right or remedy by a party to any document.

No attornment required in respect of certain leased land

4. If BGÉ or Gaslink is the lessor under any lease of land that becomes vested in the network company by virtue of this Schedule, the lessee is not required to attorn to the network company.

Stamp duty not chargeable

5. Stamp duty under the Stamp Duties Consolidation Act 1999 is not chargeable in respect of the vesting or transfer of any asset, licence, right or liability by virtue of this Schedule.