Paragraph 4 Calculating shareholdingsI1

United Kingdom

(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.

Annotations

Commencement

I1: Sch. 1 para. 4 in force at 29.4.2021 at 2.00 p.m., see reg. 1(2)