SCHEDULES

SCHEDULE 1 TRANSFER PROVISIONS: SUPPLEMENTARY

Part II General Provisions

Construction of agreements and documents

2

1

Where there subsists immediately before the vesting day an agreement to which the transferor is a party, the agreement shall have effect on and after the vesting day—

a

as if the transferee had been the party to the agreement; and

b

as respects anything falling to be done on or after the vesting day, with the modifications set out in sub-paragraph (2) below.

2

Those modifications are the substitution—

a

for any reference (whether express or implied and, if express, however worded) to the transferor, of a reference to the transferee, and

b

for any reference in general terms (however worded) to persons employed by or agents of the transferor, of a reference to persons employed by or agents of the transferee.