Paragraph 7 Meaning of “relevant holding”
A “relevant holding” for the purposes of paragraphs 4 and 6 above 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 9 below) of 2% or more of the issued ordinary share capital (as defined within the definition of “subordinate organisation” in paragraph 9 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.