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Meaning of equity interest in Part 4A of Act

Electricity (Control of Designated Electricity Licensees, etc., under Part 4A) Regulations

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—(1) For the purposes of Part 4A of the Act, “equity interest” —(a)in relation to a corporation, means a voting share in that corporation;(b)in relation to an entity other than a corporation, means any right or interest, whether legal or equitable, in that entity, by whatever name called, which gives the holder of that right or interest voting power in that entity; and(c)in relation to a business trust, means a unit in that business trust.(2) For the purpose of paragraph (1)(a), a person holds a voting share in a corporation if —(a)that person is deemed to have an interest in that share under section 7 of the Companies Act 1967; or(b)that person otherwise has a legal or an equitable interest in that share except for such interest as is to be disregarded under section 7 of the Companies Act 1967.(3) For the purpose of paragraph (1)(b), a person holds a right or an interest in an entity other than a corporation if that person has a legal or an equitable interest in that right or interest.(4) For the purpose of paragraph (1)(c), a person holds a unit in a business trust if that person has a legal or an equitable interest in that unit.

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