Schedule 6B, Part 2, paragraph 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— 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 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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Source: legislation.gov.uk · retrieved 2026-09-04