Paragraph 7

United Kingdom

(1)

The information required by paragraphs 8 and 9 shall be given where at the end of the financial year the company has a significant holding in an undertaking which is not a subsidiary undertaking of the company.

(2)

A holding is significant for this purpose if—

(a)

it amounts to F120 per cent.or more of the nominal value of any class of shares in the undertaking, or

(b)

the amount of the holding (as stated or included in the company’s accounts) exceeds one-fifth of the amount (as so stated) of the company’s assets.

Annotations

Textual amendments

F1: Words in Sch. 5 para. 7(2) substituted (2.2.1996) by S.I. 1996/189, reg. 14(3), Sch. 3 para. 7 (with reg. 16)

Notes on Schedule 5

Textual amendments

F1: Sch. 5 repealed (6.4.2008) by Companies Act 2006 (c. 46), ss. 1295, 1300, Sch. 16; S.I. 2007/3495, art. 8(a), Sch. 2 Pt. 1 (with arts. 7, 12)

Notes on Significant holdings in undertakings other than subsidiary undertakings

Textual amendments

F1: Sch. 5 substituted (subject to the transitional and saving provisions in S.I. 1990/355, arts 6–9, Sch. 2) by Companies Act 1989 (c. 40, SIF 27), ss. 6(2), 213(2), Sch. 3