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Article 76 Shares etc.

United Kingdom

(1)

Shares or stock in the share capital of—

(a)

any body corporate (wherever incorporated), and

(b)

any unincorporated body constituted under the law of a country or territory outside the United Kingdom.

(2)

Paragraph (1) includes—

(a)

any shares of a class defined as deferred shares for the purposes of section 119 of the Building Societies Act 1986 M1 F1or section 31A of the Credit Unions Act 1979; and

(b)

any transferable shares in a body incorporated under the law of, or any part of, the United Kingdom relating to F2co-operative and community benefit societies, industrial and provident societies or credit unions, or in a body constituted under the law of another EEA State for purposes equivalent to those of such a body.

(3)

But subject to paragraph (2) there are excluded from paragraph (1) shares or stock in the share capital of—

(a)

an open-ended investment company;

(b)

a building society incorporated under the law of, or any part of, the United Kingdom;

(c)

a body incorporated under the law of, or any part of, the United Kingdom relating to F3co-operative and community benefit societies, industrial and provident societies or credit unions;

(d)

any body constituted under the law of an EEA State for purposes equivalent to those of a body falling within sub-paragraph (b) or (c).

Annotations

Textual amendments

F1

Words in art. 76 inserted (8.1.2012) by The Legislative Reform (Industrial and Provident Societies and Credit Unions) Order 2011 (S.I. 2011/2687), arts. 1(1)(b), 22

F2

Words in art. 76(2)(b) inserted (1.8.2014) by The Co-operative and Community Benefit Societies and Credit Unions Act 2010 (Consequential Amendments) Regulations 2014 (S.I. 2014/1815), reg. 1(2), Sch. para. 8

F3

Words in art. 76(3)(c) inserted (1.8.2014) by The Co-operative and Community Benefit Societies and Credit Unions Act 2010 (Consequential Amendments) Regulations 2014 (S.I. 2014/1815), reg. 1(2), Sch. para. 8

Marginal citations

M1

1986 c. 53.