Paragraph 11 Rights treated as held by person who controls their exerciseX1
United Kingdom
Where a person controls a right, the right is to be treated as held by that person (and not by the person who in fact holds the right, unless that person also controls it).
A person “controls” a right if, by virtue of any arrangement between that person and others, the right is exercisable only—
by that person,
in accordance with that person’s directions or instructions, or
with that person’s consent or concurrence.
Annotations
Editorial notes
- X1
This statutory instrument was made under a procedure whereby it ceases to have effect at the end of the period of 28 days beginning with the day on which it was made unless, during that period, the instrument is approved by a resolution of each House of Parliament. It was not approved by Parliament within that period and so has ceased to have effect.