Status: You are viewing the version of the handbook as on 2018-08-15.

deemed voting power

    109in SUP 11 (Controllers and close links) and SUP 16 (Reporting requirements) (in accordance with section 422 of the Act), includes in relation to a person ("H") a voting power:

      1. (a) held by a third party with whom H has concluded an agreement, which obliges H and the third party to adopt, by concerted exercise of the voting power they hold, a lasting common policy towards the management of the undertaking in question;
      1. (b) held by a third party under an agreement concluded with H providing for the temporary transfer for consideration of the voting power in question;
      1. (c) attaching to shares which are lodged as collateral with H, provided that H controls the voting power and declares an intention to exercise it;
      1. (d) attaching to shares in which H has a life interest;
      1. (e) held or which may be exercised within the meaning of subparagraphs (a) to (d), by a controlled undertaking of H;
      1. (f) attaching to shares deposited with H which H has discretion to exercise in the absence of specific instructions from the shareholders;
      1. (g) held in the name of a third party on behalf of H; and
      1. (h) which H may exercise as a proxy where H has discretion about the exercise of the voting power in the absence of specific instructions from the shareholders.