Section 1207S — Social Security Act 1991: Voting power

(1) 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: (a) the making of distributions of capital or profits of the company to its shareholders; (b) the constituent document of the company; (c) any variation of the share capital of the company; (d) any appointment of a director of the company. (2) 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: (a) whether or not having legal or equitable force; and (b) whether or not based on legal or equitable rights. (3) 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. (4) If a company: (a) is limited both by shares and by guarantee; or (b) does not have a share capital; this section has effect as if the members or policy holders of the company were shareholders in the company.