SCHEDULE 6 Meaning of “Subsidiary” etc: Supplementary Provisions
Companies Act 2006 | Legislation

SCHEDULE 6 Meaning of “Subsidiary” etc: Supplementary Provisions

Section 1159

Introduction

1

The provisions of this Part of this Schedule explain expressions used in section 1159 (meaning of “subsidiary” etc) and otherwise supplement that section.

Voting rights in a company

2

In section 1159(1)(a) and (c) the references to the voting rights in a company are to the rights conferred on shareholders in respect of their shares or, in the case of a company not having a share capital, on members, to vote at general meetings of the company on all, or substantially all, matters.

Right to appoint or remove a majority of the directors

3

(1)     In section 1159(1)(b) the reference to the right to appoint or remove a majority of the board of directors is to the right to appoint or remove directors holding a majority of the voting rights at meetings of the board on all, or substantially all, matters.

(2)     A company shall be treated as having the right to appoint to a directors

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