(1) This section and section 33B apply only where an order under section 33(1) provides that they shall have effect.

(2) In this section "relevant agreement" means an agreement, arrangement, undertaking, scheme, licence, security, obligation or other instrument, or an oral contract, that a transferor or transferee (or any of the transferor or transferee’s subsidiaries, holding companies and any subsidiaries of their holding companies (with the respective meanings given by section 155 of the Companies Act 1963)) is a party to, is bound by or has an interest in (regardless of whether governed by the law of the State or that of any other place).

(2A) Where the transferor is ICS Building Society, the definition of ‘relevant agreement’ in subsection (2) has effect as if the references to transferor also include the Governor and Company of the Bank of Ireland.

(3) Any provision in a relevant agreement that would (apart from this subsection) cause any of the consequences specified in subsection (4) to follow by virtue of -

(a) the amendment of this Act by the Credit Institutions (Stabilisation) Act 2010,

(b) the publication of the Bill for that Act,