Paragraph 4 Calculating shareholdingsX1
United Kingdom
In relation to a person who has a share capital, a reference to holding “more than 50% of the shares” in that person is to holding shares comprised in the issued share capital of that person of a nominal value exceeding (in aggregate) 50% of that share capital.
In relation to a person who does not have a share capital—
a reference to holding shares in that person is to holding a right or rights to share in the capital or, as the case may be, profits of that person;
a reference to holding “more than 50% of the shares” in that person is to holding a right or rights to share in more than 50% of the capital or, as the case may be, profits of that person.
Annotations
Editorial notes
- X1
This statutory instrument was made under a procedure whereby it ceases to have effect at the end of the period of 28 days beginning with the day on which it was made unless, during that period, the instrument is approved by a resolution of each House of Parliament. It was not approved by Parliament within that period and so has ceased to have effect.