# Companies Act 2006, Paragraph 13


(1) In relation to a legal entity that has a share capital, a reference to holding “more than 25% of the shares” in that entity is to holding shares comprised in the issued share capital of that entity of a nominal value exceeding (in aggregate) 25% of that share capital.
(2) In relation to a legal entity that does not have a share capital—
(a) a reference to holding shares in that entity is to holding a right to share in the capital or, as the case may be, profits of that entity;
(b) a reference to holding “more than 25% of the shares” in that entity is to holding a right or rights to share in more than 25% of the capital or, as the case may be, profits of that entity.

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Source: https://www.legislation.gov.uk/ukpga/2006/46/schedule/1A/paragraph/13 (the official version)
Page: https://openlegislation.uk/companies-act-2006/schedule-1A/paragraph-13
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.