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Paragraph 8 C1F1

(1)

V holds an interest in company W if—

(a)

V holds shares in company W, directly or indirectly,

(b)

V holds, directly or indirectly, voting rights in company W,

(c)

V holds, directly or indirectly, the right to appoint or remove any member of the board of directors of company W,

(d)

V has the right to exercise, or actually exercises, significant influence or control over company W, or

(e)

sub-paragraph (2) is satisfied.

(2)

This sub-paragraph is satisfied where—

(a)

the trustees of a trust or the members of a firm that, under the law by which it is governed, is not a legal person hold an interest in company W in a way mentioned in sub-paragraph (1)(a) to (d), and

(b)

V has the right to exercise, or actually exercises, significant influence or control over the activities of that trust or firm.

Annotations

Textual amendments

F1

Schs. 1A, 1B inserted (26.5.2015 for specified purposes, 6.4.2016 in so far as not already in force) by Small Business, Enterprise and Employment Act 2015 (c. 26), s. 164(1), Sch. 3 para. 2; S.I. 2015/1329, reg. 3(a); S.I. 2015/2029, reg. 4(a)

Modifications

C1

Sch. 1A paras. 1-24 applied (with modifications) by S.I. 2009/1804 reg. 31M (as inserted (6.4.2016) by The Limited Liability Partnerships (Register of People with Significant Control) Regulations 2016 (S.I. 2016/340), regs. 1(3), 3, Sch. 1)

Notes on Schedule 1A

Modifications

C1

Sch. 1A applied (with modifications) by S.I. 2009/2436, Sch. 1 para. 20A (as inserted (26.6.2017) by The Information about People with Significant Control (Amendment) Regulations 2017 (S.I. 2017/693), regs. 2, 36 (with Sch. Pt. 3))