Paragraph 4 Calculating shareholdingsI1I2
United Kingdom
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.
In relation to a person who does not have a share capital—
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;
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 not in force at made date, see reg. 1(2)
- I2
Sch. 1 para. 4 in force at 22.3.2019 by S.I. 2019/627, reg. 10(1)(h)
Notes on the whole SI
Textual amendments
- F1
Regulations extended (with modifications) (31.12.2020 immediately after S.I. 2020/590 and S.I. 2020/951 come into force) by The Republic of Guinea-Bissau (Sanctions) (Overseas Territories) Order 2020 (S.I. 2020/1587), regs. 1, 2, Schs. 1, 2 (as amended (11.12.2025) by The Sanctions (Miscellaneous Amendments) (Overseas Territories) Order 2025 (S.I. 2025/1307), art. 1(1), Sch. 8)