Regulation 5 Continuity

On and after the transfer date BCo is to be treated for any purpose connected with the transfer as the same person as ACo, except in relation to the excluded property, rights and liabilities.

Agreements made or other things done by or in relation to ACo before the transfer date are, in relation to the transferred property, rights and liabilities, to be treated as made or done by or in relation to BCo.

Anything (including legal proceedings) that relates to the transferred property, rights and liabilities that was in the process of being done by or in relation to ACo immediately before the transfer date may be continued by BCo.

As from the transfer date any reference (express or implied) in an instrument or document to ACo is to be treated as a reference to BCo if the reference relates to, or is connected with, the transferred property, rights and liabilities.

Nothing in this regulation has the effect, directly or indirectly, of transferring excluded property, rights and liabilities.