Commentary on Sections Part 7 - Provisions Applying Only to Fixed Term Standard Contracts Chapter 5 - Dealing: Transfers Section 139 – Transfer on death of sole contract-holder
342.A fixed term standard contract may include a term which provides that, in the event of the death of the contract-holder, the contract may be transferred to another person as part of the administration of the estate of the deceased contract-holder. If this term is included, the right of succession under section 73 will not apply (so that the contract passes on as part of the administration of the estate, rather than under the succession provisions in Chapter 8 of Part 3); and section 155, which provides that the contract ends with the death of a sole contract-holder, is not incorporated as a term of the contract.