Schedule 1A, Part 3, paragraph 13(2)

In relation to a legal entity that does not have a share capital— a reference to holding shares in that entity is to holding a right to share in the capital or, as the case may be, profits of that entity; a reference to holding “more than 25% of the shares” in that entity is to holding a right or rights to share in more than 25% of the capital or, as the case may be, profits of that entity.

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