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The Yemen (Sanctions) (EU Exit) (No. 2) Regulations 2020

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The Yemen (Sanctions) (EU Exit) (No. 2) Regulations 2020, Paragraph 5 is up to date with all changes known to be in force on or before 26 November 2024. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

Voting rightsU.K.

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5.—(1) A reference to the voting rights in a person is to the rights conferred on shareholders in respect of their shares (or, in the case of a person not having a share capital, on members) to vote at general meetings of the person on all or substantially all matters.

(2) In relation to a person that does not have general meetings at which matters are decided by the exercise of voting rights—

(a)a reference to holding voting rights in the person is to be read as a reference to holding rights in relation to the person that are equivalent to those of a person entitled to exercise voting rights in a company;

(b)a reference to holding “more than 50% of the voting rights” in the person is to be read as a reference to holding the right under the constitution of the person to block changes to the overall policy of the person or to the terms of its constitution.

Commencement Information

I1Sch. 1 para. 5 not in force at made date, see reg. 1(2)

I2Sch. 1 para. 5 in force at 14.12.2020 by S.I. 2020/1514, reg. 20(1)

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