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You may know our views on the industry’s collective hatred of the Contracts (Rights of Third Parties) Act 1999. In this age of inclusivity, best lives lived and all that, it remains inexplicable to us that there should be such outright hostility to what is a fairly sensible piece of legislation that really does no harm to anyone. And here this redoubtable little act must have thought, for once, it got away with it: The governing law clause has been and gone, you’ve made it past the waivers, sovereign immunity, even the bit about recording phone calls for crying out loud, the finish line is in sight, we’re going to make it, slowly ... nearly ... just about ... and WHAM! YOU ARE OFF THE TEAM MY LITTLE LEGISLATEY FRIEND.

So cruel, the capital markets.