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Part XVIIIU.K. Recognised Investment Exchanges and Clearing Houses

Modifications etc. (not altering text)

[F1CHAPTER 1AU.K.CONTROL OVER RECOGNISED INVESTMENT EXCHANGE

Textual Amendments

Acquiring and increasing controlU.K.

301DAcquiring and increasing controlU.K.

(1) For the purposes of this Chapter, a person (“A”) acquires control over a recognised investment exchange (“B”) if any of the cases in subsection (2) begin to apply.

(2)The cases are where A holds—

(a)20% or more of the shares in B or in a parent undertaking of B (“P”);

(b)20% or more of the voting power in B or P; or

(c)shares or voting power in B or P as a result of which A is able to exercise significant influence over the management of B.

(3)For the purposes of this Chapter, a person (“A”) increases control over a recognised investment exchange (“B”) whenever—

(a)the percentage of shares which A holds in B or in a parent undertaking of B (“P”) increases from less than 50% to 50% or more;

(b)the percentage of voting power A holds in B or P increases from less than 50% to 50% or more; or

(c)A becomes a parent undertaking of B.]