Terms implied into contracts
79.—(1) This regulation applies where—
(a)a protected cell company enters into a contract with a person; and
(b)the person may assert a right under the contract against the protected cell company in respect of a part of the protected cell company (“part A”).
(2) The following terms are implied into the contract—
(a)the person may only assert that right in respect of part A;
(b)the person waives any right that the person may have to make a claim which—
(i)arises under the law of a country or territory other than the United Kingdom; and
(ii)entitles the person to assert that right in respect of any part of the protected cell company other than part A;
(c)if the person obtains property from the protected cell company by asserting that right in respect of a part of the protected cell company other than part A, then the person—
(i)will transfer the property to the protected cell company to hold on behalf of that other part without delay; and
(ii)holds the property on trust for the benefit of that other part until the transfer takes effect.
(3) A provision, whether contained in the instrument of incorporation, a contract or otherwise, is void to the extent that it purports to waive or limit the effect of the implied terms referred to in paragraph (2).