Related Commentary  

175(1)  A claim under section 174 may not be made if–

(a)the participation condition (see section 148) would not be satisfied but for section 161 or 162,

(b)the actual provision is provision in relation to a security issued by one of the affected persons (“the issuer”), and

(c)a guarantee is provided in relation to the security by a person with whom the issuer has a participatory relationship.

175(2)  For the purposes of subsection (1), one person (“A”) has a “participatory relationship” with another (“B”) if–

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