Commentary on Sections Overview Overview Section 599: Sections 597 and 598: quasi-stock lending arrangements and quasi-cash collateral
1764.This section extends the ambit of sections 597 and 598 to cover arrangements which, although achieving the same economic effect as a stock lending arrangement with cash collateral, fall outside either or both of the detailed definitions of “stock lending arrangement” and “cash collateral”. It is based on section 736D(4), (5), (7), (8) and (10) of ICTA.