Modifications etc. to legislation - GMSLA Provision

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In a Nutshell Clause 2.6:

2.6 Modifications etc. to legislation
Any reference in this Agreement to legislation or regulation is to the relevant instrument as updated and in force for the time being.
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2010 GMSLA full text of Clause 2.6:

2.6 Modifications etc. to legislation
Any reference in this Agreement to an act, regulation or other legislation shall include a reference to any statutory modification or re enactment thereof for the time being in force.
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2010 GMSLA: Full wikitext · Nutshell wikitext | GMLSA legal code
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Before you say, “well duh, yeah, of course it does. I mean honestly —”, have a conversation with an ERISA lawyer, because it is exactly this fear — that reference to a statute might be to that statute at some point in the past, and not as it stands at today’s date — that confounds the industry’s heartfelt wish to apply close out netting to US pension plans.

Look: I’m not saying you’re wrong in your reaction — plainly, you’re not — but still it is always interesting to be confronted with the nonsensical paranoid fears that haunt teh waking moments of well-paid financial markets specialists, all the same.