Section 16(2)

A transferable security or money-market instrument falls within this paragraph if it has a maturity exceeding 30 days and is issued after 1 August 2014 by— a person mentioned in any of paragraphs 1 to 5 of Schedule 2; a person, other than an individual, which is— incorporated or constituted under the law of a non-UK country, and owned by a person within sub-paragraph (a); or a person, other than an individual, acting on behalf or at the direction of a person within sub-paragraph (a) or sub-paragraph (b).

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Source: legislation.gov.uk · retrieved 2026-08-30