SCHEDULES
SCHEDULE 2Registrable beneficial owners
PART 5Supplementary provision about interpretation of Schedule
I2I3I118Shares or rights held “indirectly”
1
A person holds a share “indirectly” if the person has a majority stake in a legal entity and that entity—
a
holds the share in question, or
b
is part of a chain of legal entities—
i
each of which (other than the last) has a majority stake in the entity immediately below it in the chain, and
ii
the last of which holds the share.
2
A person holds a right “indirectly” if the person has a majority stake in a legal entity and that entity—
a
holds that right, or
b
is part of a chain of legal entities—
i
each of which (other than the last) has a majority stake in the entity immediately below it in the chain, and
ii
the last of which holds that right.
3
For these purposes, A has a “majority stake” in B if—
a
A holds a majority of the voting rights in B,
b
A is a member of B and has the right to appoint or remove a majority of the board of directors of B,
c
A is a member of B and controls alone, or pursuant to an agreement with other shareholders or members, a majority of the voting rights in B, or
d
A has the right to exercise, or actually exercises, dominant influence or control over B.
4
In the application of this paragraph to the right to appoint or remove a majority of the board of directors, a legal entity is to be treated as having the right to appoint a director if—
a
a person’s appointment as director follows necessarily from that person’s appointment as director of the legal entity, or
b
the directorship is held by the legal entity itself.