Paragraph 6 Calculating shareholdingsI1

England and Wales

(1)

In relation to a club that has a share capital, a reference to holding more than 25% of the shares in the club is to holding shares comprised in the issued share capital of the club of a nominal value exceeding (in aggregate) 25% of that share capital.

(2)

In relation to a club that does not have a share capital—

(a)

a reference to holding shares in the club is to be read as a reference to holding a right to share in the capital or, as the case may be, profits of the club;

(b)

a reference to holding more than 25% of the shares in the club is to be read as a reference to holding a right or rights to share in more than 25% of the capital or, as the case may be, profits of the club.

Annotations

Commencement

I1: Sch. 1 para. 6 in force at Royal Assent, see s. 100(2)(a)