Article 31 - Determination of Change in Ownership

(1) For the purposes of Article 30 there has been a change in the Ownership of a Company if—
(a) a single Person acquires more than half of the Ordinary Share Capital of the Company; or
(b) two or more Persons each acquire a holding of 10% or more of the Ordinary Share Capital of the Company, and those holdings together amount to more than half of the Ordinary Share Capital of the Company.
(2) Ownership of a Company shall include both direct and indirect Ownership of Ordinary Share Capital.
(3) For the purposes of Article 30, there has been a change in the Ownership of a Partnership if there is a change in the Ownership of—
(a) at least half of the Partnership assets; or
(b) at least half of the income earning rights in the Partnership.
(4) A determination of whether there has been a change in Ownership under this Article shall be restricted to a review of Company shareholdings or Ownership of a Partnership, as the case may be, within any 12 month period.
Amended (as from 18th June 2014)