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    sorry about the delay in getting back to you

    here's the answer to the question...Malleson contracts

    "The reason it doesn’t have to be dislcosed is that the stock lending contract, originally devised by Malleson’s, actually confers full title of ownership of the shares upon the borrower for capital gains tax reasons – they just have to be given back at some point.

    So legally, it’s not a short sale because the borrower “owns” the stock – thus no disclosure."
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