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The Misappropriation (Sanctions) (EU Exit) Regulations 2020

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Changes over time for: Paragraph 14

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Version Superseded: 26/04/2021

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Status:

Point in time view as at 14/12/2020. This version of this provision has been superseded. Help about Status

Changes to legislation:

There are currently no known outstanding effects for the The Misappropriation (Sanctions) (EU Exit) Regulations 2020, Paragraph 14. Help about Changes to Legislation

Rights attached to shares held by way of securityU.K.

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14.  Rights attached to shares held by way of security provided by a person are to be treated for the purposes of this Schedule as held by that person—

(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 that person's 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 that person's interests.

Commencement Information

I1Sch. 1 para. 14 not in force at made date, see reg. 1(2)

I2Sch. 1 para. 14 in force at 14.12.2020 by S.I. 2020/1514, reg. 23(1)

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