27Effect of transfer order

27 Effect of transfer order

(1)  On the transfer day in relation to a transfer order –

(a) any business (other than a liability) of –

(i) Aurora Energy or Transend; or

(ii) a subsidiary of Aurora Energy or Transend –

that is business specified in, or transferred by, the order, vests in the Crown; and

(b) any business of –

(i) Aurora Energy or Transend; or

(ii) a subsidiary of Aurora Energy or Transend –

that is a liability specified in, or transferred by, the order, becomes a liability of the Crown.

(2)  Except as otherwise provided in a transfer order, on and after the transfer day in relation to the order –

(a) a reference in an existing document –

(i) to Aurora Energy or Transend, or a subsidiary of Aurora Energy or Transend; or

(ii) to the board of directors of Aurora Energy or Transend, or of a subsidiary of Aurora Energy or Transend –

in relation to the transferring business is taken, where appropriate, to be or to include a reference to the Crown; and

(b) a contract made by Aurora Energy or Transend, or a subsidiary of Aurora Energy or Transend, relating to the transferring business but not performed or discharged before the transfer day is taken to have been made by the Crown; and

(c) a legal, or other, proceeding that could have been instituted by or against –

(i) Aurora Energy or Transend; or

(ii) a subsidiary of Aurora Energy or Transend –

immediately before the transfer day and that relates to the transferring business may be instituted by or against the Crown; and

(d) a legal, or other, proceeding that –

(i) is instituted by or against Aurora Energy or Transend, or a subsidiary of Aurora Energy or Transend; and