# The Building Societies (Transfer of Business) Regulations 1998, Regulation 6: Construction of agreements and deeds

Extent: E+W+S+N.I.

(1) Where immediately before the vesting date there subsists an agreement (whether or not in writing) or a deed to which the society is a party, not being an agreement or a deed to which the successor company is also a party, the agreement or deed shall, without prejudice to the generality of paragraph (3) below, have effect on and after the vesting date—
(a) as if the successor company had been the party thereto in place of the society; and
(b) with the modifications set out in paragraph (2) below.
(2) Those modifications are—
(a) the substitution, for any reference (whether express or implied and, if express, however worded) to the society, of a reference to the successor company; and
(b) the substitution, for any reference in general terms (however worded) to persons employed by or agents of the society, of a reference to persons employed by or agents of the successor company.
(3) Subject to paragraph (4) below, every such agreement or deed shall, on and after the vesting date, be construed as if the successor company were the same person in law as the society and accordingly in construing it any consequences which would have followed from a transfer of the society’s business to the successor company shall be disregarded.
(4) Nothing in paragraph (3) above shall cause to be disregarded any provision of an agreement or deed which makes express reference to the transfer of a society’s business under section 97 of the Act.
(5) Where on the vesting date the society has any rights or is subject to any liabilities under an agreement or deed as the assignee or successor in title to a party to that agreement or deed, this regulation shall apply to it in the same manner as if the society were a party thereto.

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Source: https://www.legislation.gov.uk/uksi/1998/212/regulation/6 (the official version)
Page: https://openlegislation.uk/building-societies-transfer-of-business-regulations-1998/regulation-6
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.