c. 12
206
ScH. 5
Telecommunications Act 1984
and accordingly for the purposes of any such agreement or arrange.
ment (as it has effect by virtue of paragraph 36 above in relation to
employment with the successor company or with a wholly owned
subsidiary of that company) any period of employment with British
Telecommunications shall count as employment with the successor
company or (as the case may be) with a wholly owned subsidiary of
that company.
(2) Nothing in sub-paragraph (1) above shall be taken as applying
in relation to the excepted liabilities or to the deed of covenant by
virtue of which those liabilities subsist.
38.-(1) It shall be the duty of British Telecommunications and of
the successor company to take, as and when during the transitional
period the successor company considers appropriate, all such steps
as may be requisite to secure that the vesting in the successor company by virtue of section 60 of this Act or this paragraph of any
foreign property, right or liability is effective under the relevant
foreign law.
(2) During the transitional period, until the vesting in the successor
company by virtue of section 60 of this Act or this paragraph of any
foreign property, right or liability is effective under the relevant
foreign law, it shall be the duty of British Telecommunications to
hold that property or right for the benefit of, or to discharge that
liability on behalf of, the successor company.
(3) Nothing in sub-paragraphs (1) and (2) above shall be taken
prejudicing the effect under the law of the United Kingdom or
of any part of the United Kingdom of the vesting in the successor
company by virtue of section 60 of this Act or this paragraph of any
as
foreign property, right or liability.
(4) British Telecommunications shall have all such powers as
may be requisite for the performance of its duty under this paragraph, but(a) it shall be the duty of the successor company during the
transitional period to act on behalf of British Telecommunications (so far as possible) in performing the duty imposed
on British Telecommunications by this paragraph ; and
(b) any foreign property, rights and liabilities acquired or incurred by British Telecommunications during that period
shall immediately become property, rights and liabilities of
the successor company.
(5) References in this paragraph to any foreign property, right or
liability are references, respectively, to any property, right or liability
which any issue arising in any proceedings would have
been determined (in accordance with the rules of private international
law) by reference to the law of a country or territory outside the
as respects
United Kingdom.
(6) Any expenses incurred by British Telecommunications under
this paragraph shall be met by the successor company.