Yn ddilys o 01/01/2003
Interpretation of capital market arrangementE+W+S
[F1[F24D(1)For the purposes of paragraph 4A an arrangement is a capital market arrangement if—
(a)it involves a grant of security to a person holding it as trustee for a person who holds a capital market investment issued by a party to the arrangement, or
(b)at least one party guarantees the performance of obligations of another party, or
(c)at least one party provides security in respect of the performance of obligations of another party, or
(d)the arrangement involves an investment of a kind described in articles 83 to 85 of the Financial Services and Markets Act 2000 (Regulated Activities) Order 2001 (S.I. 2001/544) (options, futures and contracts for differences).
(2)For the purposes of sub-paragraph (1)—
(a)a reference to holding as trustee includes a reference to holding as nominee or agent,
(b)a reference to holding for a person who holds a capital market investment includes a reference to holding for a number of persons at least one of whom holds a capital market investment, and
(c)a person holds a capital market investment if he has a legal or beneficial interest in it.
(3)In paragraph 4A, 4C, 4J and this paragraph—
“agreement” includes an agreement or undertaking effected by—
(a)contract,
(b)deed, or
(c)any other instrument intended to have effect in accordance with the law of England and Wales, Scotland or another jurisdiction, and
“party” to an arrangement includes a party to an agreement which—
(a)forms part of the arrangement,
(b)provides for the raising of finance as part of the arrangement, or
(c)is necessary for the purposes of implementing the arrangement.]]
Textual Amendments
F1Sch. A1 inserted (11.5.2001 so far as is necessary to give effect to Sch. A1 paras. 5, 45(1)-(3)(5) and 1.1.2003 in so far as not already in force) by 2000 c. 39, s. 1, Sch. 1 para. 4; S.I. 2001/1751, art. 2; S.I. 2002/2711, art. 2 (subject to transitional provisions in arts. 3-5)
F2Sch. A1 paras. 4A-4K inserted (1.1.2003) by S.I. 2002/1990, art. 3(3); S.I. 2002/2711, art. 2 (subject to transitional provision in arts. 3-5 of the commencing S.I.)