SCHEDULE 1Rules for interpretation of regulation 7(2)
Calculating shareholdingsI14
1
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.
2
In relation to a person who does not have a share capital—
a
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;
b
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.