Paragraph 28 Commencement of Chapter

The amendments made by this Chapter have effect in relation to transfers and grants made on or after 1 January 2026.

But they do not have effect in relation to a transfer or grant made on or after that date if the transfer or grant is made pursuant to an obligation, under a contract, that was unconditional before that date.

An obligation is “unconditional” if it may not be varied or extinguished by the exercise of a right (whether under the contract or otherwise).