Subsections (2) to (7) apply for the purposes of section 263A.
References to buying back securities include references to—
buying similar securities, and
in the case of a person connected with the person who is the original owner under the repo, buying the securities sold by the original owner or similar securities.
Subsection (2) applies even if the person buying the securities has not held them before.
References to repurchase or a repurchaser are to be read accordingly.
For the purposes of subsection (2) securities are similar if they give their holders—
the same rights against the same persons as to capital and distributions, interest and dividends, and
the same remedies to enforce those rights.
Subsection (5) applies even if there is a difference in—
the total nominal amounts of the securities,
the form in which they are held, or
the manner in which they can be transferred.
Agreements are related if they are entered into in pursuance of the same arrangement (regardless of the date on which either agreement is entered into).
In section 263A and this section "securities" means—
shares in a company wherever resident,
loan stock or other securities of—
the government of the United Kingdom,
a local authority in the United Kingdom,
another public authority in the United Kingdom,
a company resident in the United Kingdom or other body resident in the United Kingdom, or
shares, loan stock, stock or other securities issued by—
a government, local authority or other public authority of a territory outside the United Kingdom, or
another body of persons not resident in the United Kingdom.