OpenLegislation

Paragraph 20 Rights treated as held by a person who controls their exerciseI1I2I3

United Kingdom

(1)

Where a person controls a right, the right is to be treated for the purposes of this Schedule 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.

(3)

“Arrangement” has the meaning given in paragraph 12(3) and (4).

Annotations

Commencement

I1

Sch. 2 para. 20 not in force at Royal Assent, see s. 69

I2

Sch. 2 para. 20 in force at 1.8.2022 (except in so far as relating to ss. 7–11 of the Act) by S.I. 2022/876, reg. 3(b)

I3

Sch. 2 para. 20 in force in so far as not already in force at 12.10.2022 by S.I. 2022/1039, reg. 2(b)