12. Subject to paragraph 25, where the transaction is carried out by a sponsor institution, the …

Subject to paragraph 25, where the transaction is carried out by a sponsor institution, the transaction should be considered as not being structured to provide support if it meets either of the following conditions:

• (a) it is executed at arm’s length conditions, in accordance with paragraph 15; or
• (b) it is executed on conditions which are more favourable to the sponsor institution than arm’s length conditions.

1. Forbhreathnú

1.1 Tagairtí

1.2 Ceanglais aitheanta

1.3 Caighdeáin ghaolmhara

2. Ceanglais aitheanta

3. Caighdeáin ghaolmhara

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