{
  "url": "https://openlegislation.uk/myanmar-sanctions-regulations-2021/schedule-1/paragraph-9",
  "json_url": "https://openlegislation.uk/myanmar-sanctions-regulations-2021/schedule-1/paragraph-9.json",
  "legislation": "uksi/2021/496",
  "legislation_title": "The Myanmar (Sanctions) Regulations 2021",
  "legislation_url": "https://openlegislation.uk/myanmar-sanctions-regulations-2021",
  "path": "schedule/1/paragraph/9",
  "kind": "paragraph",
  "number": "9",
  "heading": "Shares or rights held “indirectly”",
  "text": "(1) A person holds a share “indirectly” if the person has a majority stake in another person and that other person—\n(a) holds the share in question, or\n(b) is part of a chain of persons—\n(i) each of whom (other than the last) has a majority stake in the person immediately below it in the chain, and\n(ii) the last of whom holds the share.\n(2) A person holds a right “indirectly” if the person has a majority stake in another person and that other person—\n(a) holds that right, or\n(b) is part of a chain of persons—\n(i) each of whom (other than the last) has a majority stake in the person immediately below it in the chain, and\n(ii) the last of whom holds that right.\n(3) For these purposes, a person (“A”) has a “majority stake” in another person (“B”) if—\n(a) A holds a majority of the voting rights in B,\n(b) A is a member of B and has the right to appoint or remove a majority of the board of directors of B,\n(c) A is a member of B and controls alone, pursuant to an agreement with other shareholders or members, a majority of the voting rights in B, or\n(d) A has the right to exercise, or actually exercises, dominant influence or control over B.\n(4) In the application of this paragraph to the right to appoint or remove a majority of the board of directors, a person (“A”) is to be treated as having the right to appoint a director if—\n(a) any person's appointment as director follows necessarily from that person's appointment as director of A, or\n(b) the directorship is held by A itself.",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "I",
      "label": "I1",
      "text": "Sch. 1 para. 9 in force at 29.4.2021 at 2.00 p.m., see reg. 1(2)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2021/496/schedule/1/paragraph/9",
    "retrieved_at": "2026-10-28T22:14:33.403717+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}