If you want to resign, you must serve the notice period. If you don't want to serve the notice period than you have to pay indemnity in the form of wages in-lieu of notice.
If another party is willing to pay the idemnity, namely the new employer it's called a 'buy-out'
The problem with buy-out is the element of assurance of payment. As a party not in any relationship with the former employer, and to make things worse the new employer might be a competitior to the old ones. There is no legal standing on the understanding made between the former employer with the new employer, except for the payment in-lieu of notice.
As a reminder for a smooth transition, payment of the wages in-lieu of notice is at the out most important on the buy-out excersice.
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