655Transfers under sale and repurchase arrangementsU.K.
This section has no associated Explanatory Notes
(1)If there is a sale and repurchase arrangement in respect of securities, this Chapter does not apply to the transfer by T or the transfer back under the arrangement.
(2)But subsection (1) does not apply if section 608 prevents section 607 (treatment of price differences under repos) from applying in relation to the arrangement.