Section 257BD | The no linked loan requirement ^F1

(1)No linked loan is to be made by any person, at any time in period A, to the investor or an associate of the investor.^F1

(2)In this section “linked loan” means any loan which—^F1

(a)would not have been made, or^F1

(b)would not have been made on the same terms,^F1

if the investor had not subscribed for the relevant shares, or had not been proposing to do so.

(3)References in this section to the making by any person of a loan to the investor or an associate of the investor include a reference—^F1

(a)to the giving by that person of any credit to the investor or any associate of the investor, and^F1

(b)to the assignment to that person of a debt due from the investor or any associate of the investor.^F1