MIR-5.1.3
In this section:
(a) A person holds a share if:
1. He is deemed to have an interest in that share in terms of the CBB Law, rules and regulations; or
2. He otherwise has a legal or a beneficial interest in that share, except such interest as is to be disregarded in the terms of the CBB Law, rules and regulations;
(b) A reference to the control of a percentage of the votes in a licensed member shall be construed as a reference to the control, whether direct or indirect, of that percentage of the total number of votes that might be cast in a general meeting of the licensed member ; and
(c) An associate of another person means in respect of individuals, a direct family member and in the case of a company, means the company is bound to follow the directives of the substantial shareholder, or the company in which the substantial shareholder has 20% of the votes of that company.
Amended: April 2013
Adopted January 2010
Adopted January 2010