Schedule 11, paragraph 5

The securities are offered to the members of a club or association (whether or not incorporated) and the members can reasonably be regarded as having a common interest with each other and with the club or association in the affairs of the club or association and in what is to be done with the proceeds of the offer.

← 3 · All articles · 6 →

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