Commentary on Sections Overview Section 242: Scheme including transfer of rights under a security
485.This section is the last in a group of seven sections defining types of “deduction scheme”. It is based on paragraphs 9 and 11 of Schedule 3 to F(No 2)A 2005.
486.“Security” is defined for the purposes of the Part in section 259. That definition is based on paragraph 11(6)(a) of Schedule 3 to F(No 2)A 2005. For the purposes of this section, that definition is extended by subsection (8), which is based on paragraph 11(6)(b) of that Schedule.