All provisions · Beneficial Ownership Regulations 2020 · Determination of beneficial owners
r.11 Rights attached to shares held by way of security
Rights attached to shares held by way of security provided by a person shall be treated, as held by that person —
(a) 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 in accordance with that person's instructions only; and
(b) 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 interest only.
(a) 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 in accordance with that person's instructions only; and
(b) 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 interest only.
Official source: Beneficial Ownership Regulations, 2020 (S.I. 107 of 2020), Consolidated by us with S.I. 32 of 2023 and S.I. 64 of 2025; S.I. 7 of 2025 made but not yet in force
