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The Scottish Partnerships (Register of People with Significant Control) Regulations 2017
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- UK Statutory Instruments
- 2017 No. 694
- SCHEDULE 1
- PART 3
- Paragraph 14
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Changes and effects yet to be applied to Schedule 1 Paragraph 14:
- reg. 44(2)(c) inserted by S.I. 2025/874 reg. 10(2)(c)
- reg. 45(A1) inserted by S.I. 2025/874 reg. 10(3)
Changes and effects yet to be applied to the whole Instrument associated Parts and Chapters:
Whole provisions yet to be inserted into this Instrument (including any effects on those provisions):
- reg. 44(2)(c) inserted by S.I. 2025/874 reg. 10(2)(c)
- reg. 45(A1) inserted by S.I. 2025/874 reg. 10(3)
Voting rights and the right to appoint or remove persons entitled to take part in managementU.K.
This section has no associated Explanatory Memorandum
14.—(1) A reference to the voting rights in a legal entity is to the rights conferred on shareholders in respect of their shares (or, in the case of an entity not having a share capital, on members) to vote at general meetings of the entity on all or substantially all matters.
(2) In relation to a legal entity that does not have general meetings at which matters are decided by the exercise of voting rights—
(a)a reference to exercising voting rights in the entity is to be read as a reference to exercising rights in relation to the entity that are equivalent to those of a person entitled to exercise voting rights in a company;
(b)a reference to exercising more than 25% of the voting rights in the entity is to read as a reference to exercising the right under the constitution of the entity to block changes to the overall policy of the entity or to the terms of its constitution.
(3) The voting rights in a legal entity are to be reduced by any rights held by the entity itself.
(4) The right to appoint or remove a majority of the persons who are entitled to take part in the management of an eligible Scottish partnership includes the right to appoint or remove those persons who hold a majority of the voting rights at meetings of the management body of the eligible Scottish partnership.
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