2(1)Section 263B (stock lending arrangements) is amended as follows.U.K.
(2)In subsection (2), for “section 263C(2)” substitute “ sections 263C(2) and 263CA(3) and (5) ”.
(3)In subsection (4)—
(a)in paragraph (a), insert at the end “for a consideration equal to their market value at that time”,
(b)in paragraph (b), after “at that time” insert “ for that consideration ”, and
(c)insert at the end (not as part of paragraph (c))— “ This subsection does not apply where section 263CA (insolvency of borrower) applies. ”
(4)In subsection (7), omit the definition of “interest”.