Social Security Act 1991

A reference in this Division to the voting power in a company is a reference to the total rights of shareholders to vote, or participate in any decision‑making, concerning any of the following:

the making of distributions of capital or profits of the company to its shareholders;

the constituent document of the company;

any variation of the share capital of the company;

any appointment of a director of the company.

A reference in this Division to control of the voting power in a company is a reference to control that is direct or indirect, including control that is exercisable as a result of or by means of arrangements or practices:

whether or not having legal or equitable force; and

whether or not based on legal or equitable rights.

If the percentage of total rights to vote or participate in decision‑making differs as between different types of voting or decision‑making, the highest of those percentages applies for the purposes of this section.

If a company:

is limited both by shares and by guarantee; or

does not have a share capital;