SCHEDULES

SCHEDULE 13Ownership of licensed bodies

Part 1Introductory

Controlled interest

I14

1

For the purposes of this Schedule, a person holds a controlled interest in a body (“B”) if the person—

a

holds at least x% of the shares in B,

b

holds at least x% of the shares in a parent undertaking (“P”) of B,

c

is entitled to exercise, or control the exercise of, at least x% of the voting rights in B, or

d

is entitled to exercise, or control the exercise of, at least x% of the voting rights in P.

2

For the purposes of sub-paragraph (1) “the person” means—

a

the person,

b

any of the person's associates, or

c

the person and any of the person's associates taken together.

3

In sub-paragraph (1), “x” means such percentage as may be specified in licensing rules made by the relevant licensing authority under paragraph 2(2).

4

Licensing rules made under paragraph 2(2) may specify more than one percentage.

5

Any percentage specified by licensing rules made under paragraph 2(2) must be greater than—

a

10%, or

b

if the relevant licensing authority makes licensing rules under paragraph 3(2)(a), the percentage specified in those rules.

6

For the purposes of this Schedule—

a

controlled interests held by virtue of different paragraphs of sub-paragraph (1) are restricted interests of different kinds;

b

if licensing rules made under paragraph 2(2) specify more than one percentage, controlled interests held by virtue of each of those percentages are restricted interests of different kinds.