Section 301D

For the purposes of this Chapter, a person (“A”) acquires control over a recognised investment exchange (“B”) if any of the cases in subsection (2) begin to apply. The cases are where A holds— 20% or more of the shares in B or in a parent undertaking of B (“P”); 20% or more of the voting power in B or P; or shares or voting power in B or P as a result of which A is able to exercise significant influence over the management of B. For the purposes of this Chapter, a person (“A”) increases control over a recognised investment exchange (“B”) whenever— the percentage of shares which A holds in B or in a parent undertaking of B (“P”) increases from less than 50% to 50% or more; the percentage of voting power A holds in B or P increases from less than 50% to 50% or more; or A becomes a parent undertaking of B.

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Source: legislation.gov.uk · retrieved 2026-09-04