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      1. (1) (except in51 COLL 51 , LR3449,4948 DTR 48 ,76 REC 49 , SUP 11 (Controllers and close links) and SUP 16 (Reporting requirements)) the investment, specified in article 76 of the Regulated Activities Order (Shares etc), which is in summary: a share or stock in the share capital of:
        1. (a) any body corporate (wherever incorporated);
        1. (b) any unincorporated body constituted under the law of a country or territory outside the United Kingdom.
      1. (2) (in51 COLL 51 ):
        1. (a) (in relation to an ICVC) a share in the ICVC (including both smaller denomination shares and larger denomination shares);
        1. (b) (otherwise) an investment within (1).5
      1. (3) (in48 DTR 48 and LR34, and in FEES where relevant to48 DTR 48 or LR38) (in accordance with section 566081540(1) of the Companies Act 200681) a share in the share capital of a company, and includes: 30
        1. (a) stock (except where a distinction between shares and stock is express or implied);67
        1. (b) preference shares; and
        1. (c) in chapters 4, 567, 6 and 767 of DTR a convertible share.48
      1. (4) (in REC) shares admitted to trading on a regulated market.49
      1. (5) (in SUP 11 (Controllers and close links) and SUP 16 (Reporting requirements)) (in accordance with section 422 of the Act):
        1. (a) in relation to an undertaking with share capital, allotted shares;
        1. (b) in relation to an undertaking with capital but no share capital, rights to share in the capital of the undertaking;
        1. (c) in relation to an undertaking without capital, interests:
          1. (i) conferring any right to share in the profits, or liability to contribute to the losses, of the undertaking; or
          1. (ii) giving rise to an obligation to contribute to the debts or expenses of the undertaking in the event of a winding up.76