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21.—(1) A document—
(a)executed by a CIO in accordance with regulation 20; and
(b)which makes clear on its face that it is intended by the person or persons making it to be a deed,
has effect, upon delivery, as a deed.
(2) For the purposes of paragraph (1) a document is presumed, unless the contrary intention is proved, to be delivered upon its being executed.
(3) In favour of a purchaser—
(a)if a document is treated as duly executed under regulation 20 and
(b)the document makes clear on its face that it is intended by the person or persons making it to be a deed,
the document is treated as having been delivered upon its being executed.
(4) In paragraph (3) “purchaser” has the meaning given by regulation 20(5).
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