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4(1)This paragraph relates to any agreement made, transaction effected or other thing (not contained in an enactment) which—E+W+S+N.I.
(a)has been done by, to or in relation to a transferor under a scheme,
(b)relates to any property, right or liability transferred from the transferor in accordance with the scheme, and
(c)is in force or effective immediately before the day on which the scheme comes into force.
(2)The agreement, transaction or other thing shall have effect on and after that day as if made, effected or done by, to or in relation to the corresponding transferee under the scheme.
(3)Accordingly, references to the transferor which relate to or affect any property, right or liability of the transferor vesting by virtue of the scheme in the transferee, and which are contained—
(a)in any agreement (whether or not in writing), deed, bond or instrument,
(b)in any process or other document issued, prepared or employed for the purpose of any proceeding before a court or other tribunal or authority, or
(c)in any other document whatever (other than an enactment) relating to or affecting any property, right or liability of the transferor which vests by virtue of the scheme in the transferee,
shall be taken on and after that day to refer to the transferee concerned.
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