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

Sch. 1 para. 14 in force at 14.12.2020 by S.I. 2020/1514, reg. 24(1)

http://www.legislation.gov.uk/uksi/2020/1474/schedule/1/paragraph/14The Unauthorised Drilling Activities in the Eastern Mediterranean (Sanctions) (EU Exit) Regulations 2020texttext/xmlenEXITING THE EUROPEAN UNIONSANCTIONSStatute Law Database2024-08-19Expert Participation2024-05-16These Regulations are made under the Sanctions and Anti-Money Laundering Act 2018 (c.13) to establish a sanctions regime for the purposes of discouraging any hydrocarbon exploration, production or extraction activity which has not been authorised by the Republic of Cyprus within its territorial sea or in its exclusive economic zone or on its continental shelf including, in cases where the exclusive economic zone or continental shelf has not been delimited in accordance with international law with a State having an opposite coast, activities which may jeopardise or hamper the reaching of a delimitation agreement.SCHEDULESSCHEDULE 1Rules for interpretation of regulation 7(2)14Rights attached to shares held by way of security

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.

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Sch. 1 para. 14 not in force at made date, see
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<ref href="http://www.legislation.gov.uk/id/uksi/2020/1474/schedule/1/paragraph/14">Sch. 1 para. 14</ref>
in force at 14.12.2020 by
<ref href="http://www.legislation.gov.uk/id/uksi/2020/1514">S.I. 2020/1514</ref>
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<ref href="http://www.legislation.gov.uk/id/uksi/2020/1514/regulation/24/1">reg. 24(1)</ref>
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14
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<heading>Rights attached to shares held by way of security</heading>
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<p>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—</p>
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<p>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</p>
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<p>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.</p>
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