# Financial Services and Markets Act 2000, Paragraph 14


(1) Schedule 8 to the 1992 Act (provisions supplementing section 13) is amended as follows.
(2) Omit paragraph 3(2).
(3) After paragraph 3 insert—
“3A (1) A body is to be treated for the purposes of section 13(9) as having the right to appoint to a directorship if—
(a) a person’s appointment to the directorship follows necessarily from his appointment as an officer of that body; or
(b) the directorship is held by the body itself.
(2) A body (“B”) and some other person (“P”) together are to be treated, for the purposes of section 13(9), as having the right to appoint to a directorship if—
(a) P is a body corporate which has directors and a person’s appointment to the directorship follows necessarily from his appointment both as an officer of B and a director of P;
(b) P is a body corporate which does not have directors and a person’s appointment to the directorship follows necessarily from his appointment both as an officer of B and as a member of P’s managing body; or
(c) the directorship is held jointly by B and P.
(3) For the purposes of section 13(9), a right to appoint (or remove) which is exercisable only with the consent or agreement of another person must be left out of account unless no other person has a right to appoint (or remove) in relation to that directorship.
(4) Nothing in this paragraph is to be read as restricting the effect of section 13(9).”
(4) In paragraph 9 (exercise of certain rights under instruction by, or in the interests of, incorporated friendly society) insert at the end “ or in the interests of any body over which the society has joint control ”.

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Source: https://www.legislation.gov.uk/ukpga/2000/8/schedule/18/paragraph/14 (the official version)
Page: https://openlegislation.uk/financial-services-and-markets-act-2000/schedule-18/paragraph-14
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.