SCHEDULE 1 Trigger Events: Holding of Interests and Rights
National Security and Investment Act 2021 (2021 c 25) | Legislation

SCHEDULE 1 Trigger Events: Holding of Interests and Rights

Section 10

Joint interests

1

If two or more persons each hold an interest or right jointly, each of them is treated as holding that interest or right.

Joint arrangements

2

(1)     If interests or rights held by a person and interests or rights held by another person are the subject of a joint arrangement between those persons, each of them is treated as holding the combined interests or rights of both of them.

(2)     A “joint arrangement†is an arrangement between the holders of interests or rights that they will exercise all or substantially all the rights conferred by their respective interests, or their respective rights, jointly in a way that is pre-determined by the arrangement.

Indirect holdings

3

(1)     An interest or right held indirectly by a person is to be treated as held by the person.

(2)     A person holds an interest or right “indirectly†if the person has a majority stake in an entity and that entity—

(a)     holds the interest or right, or

(b)     is part of a chain of entities—

(i)     each of which (other than the last) has

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