# The Scotland Act 1998 (Transitory and Transitional Provisions) (Members' Interests) Order 1999, Paragraph 9: Interest in shares


(1) Where a member or his spouse or cohabitee has an interest in shares comprised in the share capital of a company or other body, whether that interest is held by the member, his spouse or cohabitee or by a relevant person, and the nominal value of the shares at the relevant date is–
(a) greater than 1% of the issued share capital of the company or other body; or
(b) greater than £25,000.
(2) Where a member or his spouse or cohabitee has an interest in shares comprised in the share capital of a company or other body at the date on which he was returned as a member, the relevant date is–
(a) that date; and
(b) the 5th April immediately following that date and in each succeeding year, where he retains the interest on that 5th April.
(3) Where a member acquires an interest in shares after the date on which he was returned as a member, the relevant date is–
(a) the date on which he acquired the interest in shares; and
(b) the 5th April immediately following that date and in each succeeding year, where he retains the interest on that 5th April.
(4) For the purposes of this paragraph, a “relevant person” is a person who is subject to the control or direction of a member in respect of an interest in shares.

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Source: https://www.legislation.gov.uk/uksi/1999/1350/schedule/paragraph/9 (the official version)
Page: https://openlegislation.uk/scotland-act-1998-transitory-and-transitional-provisions-members-interests-order-1999/schedule/paragraph-9
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.