National Security Act 2023 (c. 32)

Schedules

Prospective

Schedule 13 U.K. Control of a person by a foreign power

Part 2 U.K. Interpretation of Part 1

Voting rights U.K.

7 (1) A reference to the voting rights in a person is to the rights conferred on shareholders in respect of their shares (or, in the case of a person not having a share capital, on members) to vote at general meetings of the person on all or substantially all matters.

(2) In relation to a person 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 person is to be read as a reference to exercising rights in relation to the person 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 person is to be read as a reference to exercising the rights under the constitution of the person to block changes to the overall policy of the person or to the terms of its constitution.

Commencement Information

I1 Sch. 13 para. 7 not in force at Royal Assent, see 100(1)