OpenLegislation

Paragraph 5 SharesI1I2

England, Wales and Scotland

In section 7 (shares), in subsection (5)—

(a)

at the beginning insert “Subsection (5A) applies”;

(b)

the words from “made a loan” to “secured loan” become paragraph (a);

(c)

at the end of that paragraph insert

“, or

(b)

entered into an agreement mentioned in section 11E(1) with a member, which is treated by virtue of section 11F(2) as a secured agreement.”;

(d)

the words from “the member” to the end become subsection (5A).

Annotations

Commencement

I1

Sch. 14 para. 5 not in force at Royal Assent, see s. 86(3)

I2

Sch. 14 para. 5 in force at 29.8.2023 by S.I. 2023/779, reg. 4(eee)