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76.—(1) Shares or stock in the share capital of—
(a)any body corporate (wherever incorporated), and
(b)any unincorporated body constituted under the law of a country or territory outside the United Kingdom.
(2) Paragraph (1) includes—
(a)any shares of a class defined as deferred shares for the purposes of section 119 of the Building Societies Act 1986 M1 [F1or section 31A of the Credit Unions Act 1979]; and
(b)any transferable shares in a body incorporated under the law of, or any part of, the United Kingdom relating to [F2co-operative and community benefit societies,] industrial and provident societies or credit unions, or in a body constituted under the law of another EEA State for purposes equivalent to those of such a body.
(3) But subject to paragraph (2) there are excluded from paragraph (1) shares or stock in the share capital of—
(a)an open-ended investment company;
(b)a building society incorporated under the law of, or any part of, the United Kingdom;
(c)a body incorporated under the law of, or any part of, the United Kingdom relating to [F3co-operative and community benefit societies,] industrial and provident societies or credit unions;
(d)any body constituted under the law of an EEA State for purposes equivalent to those of a body falling within sub-paragraph (b) or (c).
Textual Amendments
F1Words in art. 76 inserted (8.1.2012) by The Legislative Reform (Industrial and Provident Societies and Credit Unions) Order 2011 (S.I. 2011/2687), arts. 1(1)(b), 22
F2Words in art. 76(2)(b) inserted (1.8.2014) by The Co-operative and Community Benefit Societies and Credit Unions Act 2010 (Consequential Amendments) Regulations 2014 (S.I. 2014/1815), reg. 1(2), Sch. para. 8
F3Words in art. 76(3)(c) inserted (1.8.2014) by The Co-operative and Community Benefit Societies and Credit Unions Act 2010 (Consequential Amendments) Regulations 2014 (S.I. 2014/1815), reg. 1(2), Sch. para. 8
Marginal Citations