s 15 Property transfer regulations
(1) The Secretary of State may make regulations (“ property transfer regulations ”) providing for property, rights or liabilities of a specified steel undertaking to be transferred to— (a) the Secretary of State, (b) a nominee of the Secretary of State, or (c) a company wholly owned by the Secretary of State. (2) Property transfer regulations may make other provision for the purposes of, or in connection with, the transfer of property, rights or liabilities of a specified steel undertaking (whether the transfer has been or is to be effected by those regulations, by other property transfer regulations or otherwise). (3) Property transfer regulations may relate to— (a) all property, rights and liabilities of the specified steel undertaking, (b) all its property, rights and liabilities subject to specified exceptions, (c) specified property, rights or liabilities, or (d) property, rights or liabilities of a specified description. (4) When deciding whether to make property transfer regulations under this section in respect of a steel undertaking, the Secretary of State must consider the costs that the Secretary of State thinks are likely to be associated with the exercise of the power. (5) Property transfer regulations are subject to the negative procedure.