Paragraph 2
For the purposes of paragraph 1, a person is connected with a person entitled to appoint foundation governors where—
(a)
he is a partner or relative (including a spouse or someone living with that person as if he or she were that person’s spouse); or
(b)
either or both persons are a body corporate and one owns at least one-fifth of the other’s equity share capital (within the meaning of the Companies Act 1985f1), or is entitled to exercise or control the exercise of more than one-fifth of the voting power of the other at any general meeting.
Annotations
Footnotes
- f1
-
The Companies Act 1985 has been prospectively repealed by the Companies Act 2006.