Management and Investment Companies Act 1983
45Cross ownership to be notified
Start here
Get a plain-English read of 45
Turn the raw legal text into a practical explanation grounded in Management and Investment Companies Act 1983.
45 Cross ownership to be notified
(1) Where: (a) a person who holds or acquires a substantial ownership interest in a licensee acquires a substantial ownership interest in an eligible business entity in relation to the licensee; or (b) a person who holds or acquires a substantial ownership interest in an eligible business entity in relation to a licensee acquires a substantial ownership interest in the licensee; that person shall inform the licensee forthwith in writing and shall include particulars of all prescribed interests held by that person in the licensee and in the business entity. (2) A licensee shall forthwith notify the Board in writing of any information given to the licensee under subsection (1).