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Version date: 3 July 2016 - onwards
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Schedule 11B, Part 2 Connected Persons: References to an Interest in Shares or Debentures (paras. 7-12)

Omitted from 3 July 2016

Section 96B(2)

Introduction

7.

(1) The provisions of this Part of this Schedule have effect for the interpretation of references in paragraphs 4 and 5 (associated bodies corporate and control of a body corporate) to an interest in shares or debentures.

(2) The provisions are expressed in relation to shares but apply to debentures as they apply to shares.

General provisions

8.

(1) A reference to an interest in shares includes any interest of any kind whatsoever in shares.

(2) Any restraints or restrictions to which the exercise of any right attached to the interest is or may be subject shall be disregarded.

(3) It is immaterial that the shares in which a person has an interest are not identifiable.

(4) Persons having a joint interest in shares are deemed each of them to have that interest.

Rights to acquire shares

9.

(1) A person who enters into a contract to acquire shares is taken to have an interest in the shares.

(2) A person who -

(a) has a right to call for delivery of shares

Comparing proposed amendment...