SCHEDULERules for interpretation of regulation 7(2)
Rights treated as held by person who controls their exercise11
1
Where a person controls a right, the right is to be treated as held by that person (and not by the person who in fact holds the right, unless that person also controls it).
2
A person “controls” a right if, by virtue of any arrangement between that person and others, the right is exercisable only—
a
by that person,
b
in accordance with that person’s directions or instructions, or
c
with that person’s consent or concurrence.