Paragraph 5 Voting rightsI1I2
United Kingdom
A reference to the voting rights in a person is to the rights conferred on shareholders in respect of their shares (or, in the case of a person not having a share capital, on members) to vote at general meetings of the person on all or substantially all matters.
In relation to a person that does not have general meetings at which matters are decided by the exercise of voting rights—
a reference to holding voting rights in the person is to be read as a reference to holding rights in relation to the person that are equivalent to those of a person entitled to exercise voting rights in a company;
a reference to holding “more than 50% of the voting rights” in the person is to be read as a reference to holding the right under the constitution of the person to block changes to the overall policy of the person or to the terms of its constitution.
Annotations
Commencement
- I1
Sch. 1 para. 5 not in force at made date, see reg. 1(2)
- I2
Sch. 1 para. 5 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)