Yn ddilys o 08/11/2006
89FTransparency rules: interpretation etcU.K.
(1)For the purposes of sections 89A to 89G—
(a)the voting rights in respect of any voting shares are the voting rights attached to those shares,
(b)a person is to be regarded as holding the voting rights in respect of the shares—
(i)if, by virtue of those shares, he is a shareholder within the meaning of Article 2.1(e) of the transparency obligations directive;
(ii)if, and to the extent that, he is entitled to acquire, dispose of or exercise those voting rights in one or more of the cases mentioned in Article 10(a) to (h) of the transparency obligations directive;
(iii)if he holds, directly or indirectly, a financial instrument which results in an entitlement to acquire the shares and is an Article 13 instrument, and
(c)a person holds a “comparable instrument” in respect of voting shares if he holds, directly or indirectly, a financial instrument in relation to the shares which has similar economic effects to an Article 13 instrument (whether or not the financial instrument results in an entitlement to acquire the shares).
(2)Transparency rules under section 89A(3)(b) may make different provision for different descriptions of comparable instrument.
(3)For the purposes of sections 89A to 89G two or more persons may, at the same time, each be regarded as holding the same voting rights.
(4)In those sections—
“Article 13 instrument” means a financial instrument of a type determined by the European Commission under Article 13.2 of the transparency obligations directive;
“UK market” means a market that is situated or operating in the United Kingdom;
“” means shares of an issuer to which voting rights are attached.