3A
CurrentControlling interest
Part 1Preliminary
3A Controlling interest
For the purposes of this Act, the State has a controlling interest in a body if—
(a)
at least 50% of the shares in the body are held by, or on behalf of, the State or a statutory authority; or
(b)
at least 50% of the directors (by whatever name called) of the body are appointed by, or at the direction of, the State or a statutory authority.
S. 4 substituted by No. 50/2001 s. 5.
This Act’s bill:Second reading speech
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