Paragraph 4 Rights treated as held by person who controls their exerciseI1I2
United Kingdom
(1)
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).
(2)
A person “controls” a right if, by virtue of any arrangement between that person and others, the right is exercisable only—
(a)
by that person,
(b)
in accordance with that person’s directions or instructions, or
(c)
with that person’s consent or concurrence.
Annotations
Commencement
- I1
Sch. 2 para. 4 not in force at Royal Assent, see s. 339(1)
- I2
Sch. 2 para. 4 in force at 1.1.2025 by S.I. 2024/1226, regs. 1(2), 2(1)(8)