150“Transaction” and “series of transactions”U.K.
(1)In this Part “transaction” includes arrangements, understandings and mutual practices (whether or not they are, or are intended to be, legally enforceable).
(2)References in this Part to a series of transactions include references to a number of transactions each entered into (whether or not one after the other) in pursuance of, or in relation to, the same arrangement.
(3)A series of transactions is not prevented by reason only of one or more of the matters mentioned in subsection (4) from being regarded for the purposes of this Part as a series of transactions by means of which provision has been made or imposed as between any two persons.
(4)Those matters are—
(a)that there is no transaction in the series to which both those persons are parties,
(b)that the parties to any arrangement in pursuance of which the transactions in the series are entered into do not include one or both of those persons, and
(c)that there is one or more transactions in the series to which neither of those persons is a party.
(5)In this section “arrangement” means any scheme or arrangement of any kind (whether or not it is, or is intended to be, legally enforceable).