{
  "url": "https://openlegislation.uk/finance-act-2011/schedule-19/paragraph-32",
  "json_url": "https://openlegislation.uk/finance-act-2011/schedule-19/paragraph-32.json",
  "legislation": "ukpga/2011/11",
  "legislation_title": "Finance Act 2011",
  "legislation_url": "https://openlegislation.uk/finance-act-2011",
  "path": "schedule/19/paragraph/32",
  "kind": "paragraph",
  "number": "32",
  "heading": null,
  "text": "(1) Sovereign stock-lending liabilities are excluded.\n(2) “ Sovereign stock-lending liabilities ” means liabilities of the lender to redeliver equivalent cash collateral under a stock lending arrangement in respect of high quality securities.\n(3) Section 805 of CTA 2010 (“stock lending arrangement”) applies for the purposes of sub-paragraph (2) as it applies for the purposes of Chapter 5 of Part 17 of that Act, and the reference in sub-paragraph (2) to “ the lender ” is to be construed accordingly.\n(4) Paragraph 31(3) and (4) apply for the purposes of this paragraph.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/2011/11/schedule/19/paragraph/32",
    "retrieved_at": "2026-10-29T09:09:31.813616+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}