Film Licensed Investment Company Act 1998
27Ownership condition
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27 Ownership condition
(1) A FLIC must not have an unacceptable level of foreign ownership or an unacceptable level of individual ownership. (2) For the purposes of this Act, a FLIC has an unacceptable level of foreign ownership if a group of foreign persons hold, in total, a particular stake in the FLIC of 33% or more. (3) For the purposes of this Act, a FLIC has an unacceptable level of individual ownership if a person holds a particular stake in the FLIC of 33% or more. (4) Schedule 1 sets out definitions of expressions used in this section.
Note 1: The limits on the ownership of a FLIC relate to a person’s stake in the FLIC.
Note 2: For stake see Schedule 1.