# The Building Societies (Designation of Qualifying Bodies) Order 1991., Paragraph 5: Meaning of “relevant holding”


A “relevant holding” for purposes of paragraphs 3 and 4 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 7 below) of 2% or more of the issued ordinary share capital (as defined within the definition of “subordinate organisation” in paragraph 7 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.

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Source: https://www.legislation.gov.uk/uksi/1991/357/schedule/paragraph/5 (the official version)
Page: https://openlegislation.uk/building-societies-designation-of-qualifying-bodies-order-1991/schedule/paragraph-5
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.