Paragraph 2 Conditions for being an ownerI1
England and Wales
Condition 1 is that the person has the right to exercise, or actually exercises, significant influence or control over the activities of the club (in whole or in part).
Condition 2 is that the person holds, directly or indirectly, more than 25% of the shares in the club.
Condition 3 is that the person holds, directly or indirectly, more than 25% of the voting rights in the club.
Condition 4 is that the person holds the right, directly or indirectly, to appoint or remove an officer of the club.
Condition 5 is that—
the trustees of a trust, or the members of a partnership, unincorporated association or other body, that is not a legal person under the law by which it is governed would meet one or more of conditions 1 to 4 (in their capacity as such) in relation to the club if the references in those conditions to a “person” were to the trustees or members, and
the person has the right to exercise, or actually exercises, significant influence or control over the activities of that trust or body (in whole or in part).
Annotations
Commencement
- I1
Sch. 1 para. 2 in force at Royal Assent, see s. 100(2)(a)