s 64 The prescribed percentage
(1) The Secretary of State may by regulations made by = statutory instrument from time to time prescribe the percentage to apply in determining whether a person’s interest in any shares in a company is subject to the notification requirement under section 63 of this Act, and different percentages may be so prescribed in relation to companies of different classes or descriptions. (2) Where in consequence of any reduction in the percentage applicable for the purposes of that section made by regulations under this section a person’s interest in relevant share capital of any public company becomes an interest subject to the notification requirement under that section, he shall be under an obligation to make to the company the notification with respect to his interest required by subsection (5) of that section. (3) Subsection (6) of that section shall not apply in any such case, but a person’s obligation to make any notification under that section by virtue of this section must be performed within the period of ten days next following the day on which that obligation arises. (4) No regulations shall be made under this section unless a draft of the instrument containing the regulations has been laid before Parliament and has been approved by resolution of each House of Parliament.