Section 7 ContinuityI1

Share transfer regulations may provide for a transferee to be treated for any purpose connected with the transfer as the same person as the transferor.

Share transfer regulations may provide for agreements made or other things done by or in relation to a transferor to be treated as made or done by or in relation to the transferee.

Share transfer regulations may provide for anything (including legal proceedings) that relates to anything transferred and is in the process of being done by or in relation to the transferor immediately before the transfer date to be continued by or in relation to the transferee.

Share transfer regulations may modify references (express or implied) in an instrument or document to a transferor.

Share transfer regulations may require or permit—

Obligations imposed under subsection (5) are enforceable as if created by contract between the transferor and the transferee.

In this section, “transfer date” means the date or time on or at which share transfer regulations take effect (or the relevant part of those regulations takes effect).