Search Legislation

Interests of Members of the Scottish Parliament Act 2006

Status:

This is the original version (as it was originally enacted).

Interest in shares

This section has no associated Explanatory Notes

9(1)Where a member has, or had, an interest in shares, whether that interest is, or was, held by the member or by a relevant person, and sub-paragraph (2) applies.

(2)This sub-paragraph applies where either—

(a)the nominal value of the shares at the relevant date is, or was, greater than 1% of the total nominal value of the issued share capital of the company or other body; or

(b)the market value of the shares at the relevant date exceeds, or exceeded, 50 per cent of a member’s salary on that date (rounded down to the nearest £10).

(3)Sub-paragraph (1) applies apply to an interest in shares, whether that interest is, or was, held by a member (or a relevant person)—

(a)solely in his or her own name;

(b)jointly with any other person or body; or

(c)as a trustee, whether or not jointly with other trustees where the member has an interest as a beneficiary of the trust.

(4)Sub-paragraph (1) does not apply to an interest in shares which forms part of the assets of a partnership and any income from that partnership is, or forms part of, remuneration registered under paragraph 2 of this schedule.

(5)Where a member has ceased to have an interest in shares before the date on which the member was returned as a member, the relevant date is the date when the interest in such shares ceased to be so held.

(6)Where a member had an interest in shares at the date on which the member was returned as a member, the relevant date is—

(a)that date; and

(b)the 5th April immediately following that date and in each succeeding year, where the interest is retained on that 5th April.

(7)Where a member acquires an interest in shares after the date on which the member was returned as a member, the relevant date is—

(a)the date on which the interest in shares was acquired; and

(b)the 5th April immediately following that date and in each succeeding year, where the interest is retained on that 5th April.

(8)In this paragraph—

(a)an “interest in shares” means an interest in shares comprised in the share capital of a company or other body; and

(b)“relevant person” is a person who is subject to the control or direction of a member in respect of an interest in shares.

Back to top

Options/Help

Print Options

Close

Legislation is available in different versions:

Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.

Original (As Enacted or Made):The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.

Close

See additional information alongside the content

Show Explanatory Notes for Sections: Displays relevant parts of the explanatory notes interweaved within the legislation content.

Close

Opening Options

Different options to open legislation in order to view more content on screen at once

Close

Explanatory Notes

Text created by the Scottish Executive department responsible for the subject matter of the Act to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Acts of the Scottish Parliament except those which result from Budget Bills

Close

More Resources

Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • correction slips
  • links to related legislation and further information resources
Close

More Resources

Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • correction slips

Click 'View More' or select 'More Resources' tab for additional information including:

  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • links to related legislation and further information resources