Part 2 Interpretation of Part 1
National Security Act 2023 (2023 c 32) | Legislation

Part 2 Interpretation of Part 1

Interpretation

3

This Part makes provision about the interpretation of Part 1 of this Schedule.

Joint interests

4

If a foreign power holds a share or right jointly with another person (whether or not a foreign power), each of those persons is to be taken to hold that share or right.

Joint arrangements

5

(1)     If shares or rights held by a foreign power and shares or rights held by another person (whether or not a foreign power) are the subject of a joint arrangement between those persons, each of those persons is to be taken to hold the combined shares or rights of both persons.

(2)     A “joint arrangement†is an arrangement between the holders of shares (or rights) that they will exercise all or substantially all the rights conferred by their respective shares (or rights) jointly in a way that is pre-determined by the arrangement.

(3)     For the meaning of “arrangementâ€, see paragraph 12.

Calculating shareholdings

6

(1)     In relation to a person that has a share capital, a reference to holding more than 25% of the shares in that person is to holding

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