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(1)The parties are free to agree on the method of reckoning periods of time for the purposes of any provision agreed by them or any provision of this Part having effect in default of such agreement.
(2)If or to the extent there is no such agreement, periods of time shall be reckoned in accordance with the following provisions.
(3)Where the act is required to be done within a specified period after or from a specified date, the period begins immediately after that date.
(4)Where the act is required to be done a specified number of clear days after a specified date, at least that number of days must intervene between the day on which the act is done and that date.
(5)Where the period is a period of seven days or less which would include a Saturday, Sunday or a public holiday in the place where anything which has to be done within the period falls to be done, that day shall be excluded.
In relation to England and Wales or Northern Ireland, a “public holiday” means Christmas Day, Good Friday or a day which under the M1Banking and Financial Dealings Act 1971 is a bank holiday.
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