# The Companies (Northern Ireland) Order 1986 (revoked), Article 104: Interpretation for Articles 99 to 106

Extent: N.I.

(1) The following paragraphs apply for the interpretation of Articles 99 to 106.
(2) “Equity security”, in relation to a company, means a relevant share in the company (other than a share shown in the memorandum to have been taken by a subscriber to the memorandum or a bonus share), or a right to subscribe for, or to convert securities into, relevant shares in the company.
(3) A reference to the allotment of equity securities or of equity securities consisting of relevant shares of a particular class includes the grant of a right to subscribe for, or to convert any securities into, relevant shares in the company or (as the case may be) relevant shares of a particular class; but such a reference does not include the allotment of relevant shares pursuant to such a right.
(3A) A reference to the allotment of equity securities or of equity securities consisting of relevant shares of a particular class also includes the sale of any relevant shares in the company or (as the case may be) relevant shares of a particular class if, immediately before the sale, the shares were held by the company as treasury shares.
(4) “Relevant employee shares”, in relation to a company, means shares of the company which would be relevant shares in it but for the fact that they are held by a person who acquired them in pursuance of an employees' share scheme.
(5) “Relevant shares”, in relation to a company, means shares in the company other than—
(a) shares which as respects dividends and capital carry a right to participate only up to a specified amount in a distribution, and
(b) shares which are held by a person who acquired them in pursuance of an employees' share scheme or, in the case of shares which have not been allotted, are to be allotted in pursuance of such a scheme or, in the case of shares held by the company as treasury shares, are to be transferred in pursuance of such a scheme.
(6) A reference to a class of shares is to shares to which the same rights are attached as to voting and as to participation, both as respects dividends and as respects capital, in a distribution.
(7) In relation to an offer to allot securities required by Article 99(1) or by any provision to which Article 99(3) applies, a reference in Articles 99 to 103 and this Article (however expressed) to the holder of shares of any description is to whoever was at the close of business on a date, to be specified in the offer and to fall in the period of 28 days immediately before the date of the offer, the holder of shares of that description.

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Source: https://www.legislation.gov.uk/nisi/1986/1032/article/104 (the official version)
Page: https://openlegislation.uk/companies-northern-ireland-order-1986-revoked/article-104
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.