diff --git a/WHATS_NEW b/WHATS_NEW
index d6e541591..987b020a3 100644
--- a/WHATS_NEW
+++ b/WHATS_NEW
@@ -1,5 +1,6 @@
 Version 2.02.40 - 
 ================================
+  Avoid repeatedly wiping cache while VG_GLOBAL is held in vgscan & pvscan.
   Fix pvresize to not allow resize if PV has two metadata areas.
   Fix setting of volume limit count if converting to lvm1 format.
   Fix vgconvert logical volume id metadata validation.
diff --git a/lib/cache/lvmcache.c b/lib/cache/lvmcache.c
index 139425ff7..136a0b246 100644
--- a/lib/cache/lvmcache.c
+++ b/lib/cache/lvmcache.c
@@ -97,9 +97,10 @@ static void _update_cache_info_lock_state(struct lvmcache_info *info,
 	int was_locked = (info->status & CACHE_LOCKED) ? 1 : 0;
 
 	/*
-	 * Cache becomes invalid whenever lock state changes
+	 * Cache becomes invalid whenever lock state changes unless
+	 * exclusive VG_GLOBAL is held (i.e. while scanning).
 	 */
-	if (was_locked != locked) {
+	if (!vgname_is_locked(VG_GLOBAL) && (was_locked != locked)) {
 		info->status |= CACHE_INVALID;
 		*cached_vgmetadata_valid = 0;
 	}
@@ -166,7 +167,7 @@ void lvmcache_drop_metadata(const char *vgname)
 
 		/* Indicate that PVs could now be missing from the cache */
 		init_full_scan_done(0);
-	} else
+	} else if (!vgname_is_locked(VG_GLOBAL))
 		_drop_metadata(vgname);
 }