SCHEDULES

SCHEDULE 2Qualifying asset holding companies

PART 1Introduction and conditions for being a QAHC

References to voting power

7

(1)

References to “voting power” in paragraphs 3 to 6 are to be construed in accordance with this paragraph.

(2)

The amount of voting power a person has in a company is to be determined by reference to the proportion of the voting power that person has in the case of a vote at a forum of the company’s members (for example, in the case of a company incorporated in the United Kingdom, at its annual general meeting) on a standard resolution.

(3)

The reference in sub-paragraph (2) to a standard resolution is to a resolution in relation to which there are no rules specific to resolutions of that type which vary the voting power of members in relation to a resolution of that type as compared to other types of resolutions.