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Companies Act 1985
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Changes over time for: Paragraph 8
Version Superseded: 06/04/2008
Alternative versions:
- 01/02/1991- Amendment
- 01/10/2007
Point in time - Stop date 06/04/2008- Amendment
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8Rights attached to shares held by way of security shall be treated as held by the person providing the security—
(a)where apart from the right to exercise them for the purpose of preserving the value of the security, or of realising it, the rights are exercisable only in accordance with his instructions, and
(b)where the shares are held in connection with the granting of loans as part of normal business activities and apart from the right to exercise them for the purpose of preserving the value of the security, or of realising it, the rights are exercisable only in his interests.
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