Schedule 14, paragraph 5

In section 7 (shares), in subsection (5)— at the beginning insert “Subsection (5A) applies”; the words from “made a loan” to “secured loan” become paragraph (a); at the end of that paragraph insert , or entered into an agreement mentioned in section 11E(1) with a member, which is treated by virtue of section 11F(2) as a secured agreement. the words from “the member” to the end become subsection (5A).

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