Schedule 7, paragraph 3

In section 1162(2)(b) the reference to the right to appoint or remove a majority of the board of directors is to the right to appoint or remove directors holding a majority of the voting rights at meetings of the board on all, or substantially all, matters. An undertaking shall be treated as having the right to appoint to a directorship if— a person's appointment to it follows necessarily from his appointment as director of the undertaking, or the directorship is held by the undertaking itself. A right to appoint or remove which is exercisable only with the consent or concurrence of another person shall be left out of account unless no other person has a right to appoint or, as the case may be, remove in relation to that directorship.

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