Paragraph 4 Meaning of relevant holding
A “relevant holding” for the purposes of paragraphs 2 and 3 means:
(a)
in the case of a company limited by shares sufficient shares to result in the society having direct ownership or direct and indirect ownership (determined as specified in the definition of “subordinate organisation” in paragraph 6 below) of 2% or more of the issued ordinary share capital (as defined within the definition of “subordinate organisation” in paragraph 6 below) of the company; or
(b)
in the case of any other body corporate, 2% or more of the issued shares or corresponding membership rights in the body corporate.