Schedule 3, paragraph 2B(2)

For the purposes of sub-paragraph (1)(a)— any directorship in which the person represents the United Kingdom is not counted; executive or non-executive directorships— shall be counted as a single directorship; and held within the same group, or held within the same undertaking where the exchange holds a qualifying holding within the meaning of Article 4.1.31 of the markets in financial instruments directive, any directorship in an organisation which does not pursue predominantly commercial objectives is not counted.

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