6Where there is a relevant disposal which is an exempted disposal by virtue of paragraph 4(1)(d) or paragraph 4(1)(e) above—
(a)the covenant required by paragraph 1 above is not binding on the person to whom the disposal is made or any successor in title of his; and
(b)that covenant and the charge taking effect by virtue of paragraph 2 above cease to apply in relation to the property disposed of.