Rights and powers to be taken into account: generalU.K.
97(1)There shall be attributed to each relevant person—
(a)rights and powers that he is entitled to acquire at a future date or will, at a future date, become entitled to acquire;
(b)rights and powers of other persons, to the extent that they are required, or may be required, to be exercised in any one or more of the following ways—
(i)on his behalf;
(ii)under his direction;
(iii)for his benefit;
(c)rights and powers of a person connected with him;
(d)rights and powers that would be attributed to a person connected with him if that person were a relevant person.
(2)Sub-paragraph (1)(b) does not apply, in a case where a loan has been made by one person to another, to rights and powers conferred in relation to property of the borrower by the terms of any security relating to the loan.
(3)In sub-paragraph (1)(b) to (d), the references to a person’s rights and powers include rights or powers that he is entitled to acquire at a future date or will, at a future date, become entitled to acquire.
(4)In this paragraph a “relevant person” means a person whose rights or powers are relevant to the determination of the question whether a person has control of or a major interest in a company.