4.—(1) In relation to a person who has a share capital, a reference to holding “more than 50% of the shares” in that person is to holding shares comprised in the issued share capital of that person of a nominal value exceeding (in aggregate) 50% of that share capital.
(2) In relation to a person who does not have a share capital—
(a)a reference to holding shares in that person is to holding a right or rights to share in the capital or, as the case may be, profits of that person;
(b)a reference to holding “more than 50% of the shares” in that person is to holding a right or rights to share in more than 50% of the capital or, as the case may be, profits of that person.
Commencement Information
I1Sch. 1 para. 4 not in force at made date, see reg. 1(2)
I2Sch. 1 para. 4 in force at 25.3.2019 by S.I. 2019/627, reg. 6(1)(j)