participating interest

Definition:

an interest held by an undertaking in the shares of another undertaking which it holds on a long-term basis of control or influence arising from or related to that interest. This includes the purposes and activities of any of the parent undertaking’s and of the group as a whole. A holding of 20 per cent or more of the shares of an undertaking shall be presumed to be a participating interest unless the contrary shown. Interests that are convertible into interest in shares and options to acquire shares must be counted as interests in shares for the purposes of this definition and an interest held on behalf of a undertaking must be treated as held by it. Any interests held by any other subsidiary undertakings of the parent undertaking must be treated as held by it.



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