# Finance Act 2013, Paragraph 9


(1) Section 263A (agreements for sale and repurchase of securities) is amended as follows.
(2) Before subsection (1) insert—
“(A1) For the purposes of this section there is a repo in respect of securities if—
(a) a person (“the original owner”) has agreed to sell the securities to another person (“the interim holder”), and
(b) the original owner or a person connected with the original owner—
(i) is required to buy back the securities by the agreement or a related agreement,
(ii) is required to buy back the securities as a result of the exercise of an option acquired under the agreement or a related agreement, or
(iii) exercises an option to buy back the securities which was acquired under the agreement or a related agreement.”
(3) In subsection (1), for the words from “falling” to “repos)” substitute “ where under a repo in respect of securities the original owner has transferred the securities to the interim holder ”.
(4) Omit subsection (5).

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Source: https://www.legislation.gov.uk/ukpga/2013/29/schedule/12/paragraph/9 (the official version)
Page: https://openlegislation.uk/finance-act-2013/schedule-12/paragraph-9
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.