Schedule 1A, Part 3, paragraph 18(1)

A person holds a share “indirectly” if the person has a majority stake in a legal entity and that entity— holds the share in question, or is part of a chain of legal entities— each of which (other than the last) has a majority stake in the entity immediately below it in the chain, and the last of which holds the share.

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