Section 47(5)

A transfer scheme under this section may- (a) define the property, interest in property, rights and liabilities to be transferred – (i) by specifying or describing the property, interest in property, rights and liabilities in question; or (ii) by referring to all the property, interest in property, rights and liabilities comprised in a described part of the transferor's undertaking; or (iii) partly in one way and partly in the other; (b) provide that any rights or liabilities stipulated or described in the scheme shall be enforceable by or against the transferor or the transferee; (c) impose on the transferor an obligation to enter into such written agreements with or execute such other instruments in favour of any other subsequent transferee, as may be stipulated in the scheme; (d) provide for the transfer of digital records; (e) mention the functions and duties of the transferee; (f) make such supplemental, incidental and consequential provisions, as the transferor considers appropriate including provision stipulating the order as taking effect; and (g) provide that the transfer shall be provisional for a stipulated period.