Question

4. Define the term ‘substantial shareholders’ based on the Section 136 of the Companies Act 2016

4. Define the term ‘substantial shareholders’ based on the Section 136 of the Companies Act 2016

Homework Answers

Answer #1

According to Section 136 of the Companies Act 2016, a substantial shareholder is defined as:

  • A person who has an interest in one or more voting shares in a company and the number or the aggregate number of such shares is not less than 5% of the total number of all the voting shares included in the company; or
  • Being a company the share capital of which is divided into two or more classes of the shares, if the person has an interest in one or more voting shares include in one of those classes and the number or the aggregate number of such shares is not less than 5% of the aggregate number of the total number of all the voting shares included in that class of shares.
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