1
This Part of this Schedule specifies the conditions at least one of which must be met by an individual (“X”) in relation to a company (“company Y”) in order for the individual to be a person with “significant control” over the company.
Companies Act 2006 PART 1 — The specified conditions
Introduction
Ownership of shares
2
The first condition is that X holds, directly or indirectly, more than 25% of the shares in company Y.
Ownership of voting rights
3
The second condition is that X holds, directly or indirectly, more than 25% of the voting rights in company Y.
Ownership of right to appoint or remove directors
4
The third condition is that X holds the right, directly or indirectly, to appoint or remove a majority of the board of directors of company Y.
Significant influence or control
5
The fourth condition is that X has the right to exercise, or actually exercises, significant influence or control over company Y.
Trusts, partnerships etc
6
The fifth condition is that— (a) the trustees of a trust or the members of a firm that, under the law by which it is governed, is not a legal person meet any of the other specified conditions (in their capacity as such) in relation to company Y, or would do so if they were individuals, and (b) X has the right to exercise, or actually exercises, significant influence or control over the activities of that trust or firm.
Back to Companies Act 2006 — full text
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