SCHEDULES

SCHEDULE 2CONTROL OF LOANS ETC TO PERMITTED PARTICIPANTS

Persons with whom certain registered parties may enter into loan agreements etc

I113

1

Section 71L of the 2000 Act (offences relating to regulated transactions) has effect with the following modifications.

2

In each of subsections (1)(a), (2)(b), (3)(a) and (4)(a), the reference to entering into a regulated transaction of a description mentioned in section 71F(2) or (3) in which another participant is not an authorised participant includes a reference to entering into a variation to which paragraph 12 of this Schedule applies.

3

In relation to such a variation—

a

subsection (3)(b) has effect as if for the words “that the other participant is not an authorised participant” there were substituted “ of the matters mentioned in paragraph (a) ”, and

b

subsections (3)(c), (4)(c) and (10) each have effect as if the reference to the transaction were to the variation.

4

In subsection (9), the reference to a regulated transaction with a person other than an authorised participant includes a reference to a variation to which paragraph 12 of this Schedule applies.