Schedule 11, paragraph 16(1)

The securities are issued by a body corporate and are offered— by the issuer, by a body corporate connected with the issuer or by a relevant trustee; only to qualifying persons; and on terms that a contract to acquire any such securities may be entered into only by the qualifying person to whom they were offered or, if the terms of the offer so permit, any qualifying person.

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Source: legislation.gov.uk · retrieved 2026-09-04