11.—(1) Where a person controls a right, the right is to be treated as held by that person (and not by the person who in fact holds the right, unless that person also controls it).
(2) A person “controls” a right if, by virtue of any arrangement between that person and others, the right is exercisable only—
(a)by that person,
(b)in accordance with that person's directions or instructions, or
(c)with that person's consent or concurrence.
Commencement Information
I1Sch. 1 para. 11 in force at 22.3.2019 by S.I. 2019/627, reg. 3(1)(k)