Section 786(3)

The arrangements provided for by regulations making such provision as is mentioned in subsection (1)— must not be such that a person who but for the arrangements would be entitled to have his name entered in the company's register of members ... ceases to be so entitled, and must be such that a person who but for the arrangements would be entitled to exercise any rights in respect of the securities continues to be able effectively to control the exercise of those rights.

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