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The Building Societies (Designation of Qualifying Bodies) Order 1992
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Meaning of “relevant holding”
7. A “relevant holding” for the purposes of paragraphs 4 and 6 above means:
(a)in the case of a company limited by shares sufficient shares to result in the society having direct ownership or direct and indirect ownership (determined as specified in the definition of “subordinate organisation” in paragraph 9 below) of 2% or more of the issued ordinary share capital (as defined within the definition of “subordinate organisation” in paragraph 9 below) of the company; or
(b)in the case of any other body corporate, 2% or more of the issued shares or corresponding membership rights in the body corporate.
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