117(1)This paragraph applies if—U.K.
(a)an agreement to sell securities was made before 27 June 2006,
(b)the person from whom the securities are to be repurchased (“A”) is not the person to whom the original owner agreed to sell the securities, and
(c)A did not become the person from whom the securities are to be repurchased in consequence of an agreement made on or after 27 June 2006.
(2)Section 602 has effect with the omission of subsections (3) and (4).