# The Libya (Sanctions) (EU Exit) Regulations 2020, Paragraph 4: Calculating shareholdings

Extent: E+W+S+N.I.

(1) In relation to a person who has a share capital, a reference to holding “more than 50% of the shares” in that person is to holding shares comprised in the issued share capital of that person of a nominal value exceeding (in aggregate) 50% of that share capital.
(2) In relation to a person who does not have a share capital—
(a) a reference to holding shares in that person is to holding a right or rights to share in the capital or, as the case may be, profits of that person;
(b) a reference to holding “more than 50% of the shares” in that person is to holding a right or rights to share in more than 50% of the capital or, as the case may be, profits of that person.

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Source: https://www.legislation.gov.uk/uksi/2020/1665/schedule/1/paragraph/4 (the official version)
Page: https://openlegislation.uk/libya-sanctions-eu-exit-regulations-2020/schedule-1/paragraph-4
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.