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301. Meaning of "capital market arrangement"

(1) For the purposes of Section 152 (Appointment and powers of receivers and administrative receivers) an arrangement is a "capital market arrangement" if —
(a) it involves a grant of security to a person holding it as trustee for a person who holds a capital market investment issued by a party to the arrangement; or
(b) it involves a grant of security to —
(i) a party to the arrangement who issues a capital market investment; or
(ii) a person who holds the security as trustee for a party to the arrangement in connection with the issue of a capital market investment; or
(c) it involves a grant of security to a person who holds the security as trustee for a party to the arrangement who agrees to provide finance to another party; or
(d) at least one party guarantees the performance of obligations of another party; or
(e) at least one party provides security in respect of the performance of obligations of another party; or
(f) the arrangement involves an investment which is an option, future or contract for difference.
(2) For the purposes of sub-paragraph (1) —
(a) a reference to holding as trustee includes a reference to holding as nominee or agent;
(b) a reference to holding for a person who holds a capital market investment includes a reference to holding for a number of persons at least one of whom holds a capital market investment;
(c) a person holds a capital market investment if he has a legal or beneficial interest in it; and
(d) the reference to the provision of finance includes the provision of an indemnity.
(3) In Section 152(8)(a) (Appointment and powers of receivers and administrative receivers) and this paragraph "party" to an arrangement includes a party to an agreement which —
(a) forms part of the arrangement;
(b) provides for the raising of finance as part of the arrangement; or
(c) is necessary for the purposes of implementing the arrangement.