Revised Laws of Saint Lucia (2021)

PART 11
DISCLOSURE OF SHAREHOLDINGS OF DIRECTORS AND SUBSTANTIAL SHAREHOLDERS

124.   Interpretation

In this Part—

associated person” shall be construed in accordance with section 91(2);

director” includes—

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    (a)     a person occupying the position of a director (by whatever name called); and

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    (b)     a person in accordance with whose directions or instructions (not being advice given in a professional capacity) the directors are accustomed to act;

interest in securities” shall be construed in accordance with section 91;

securities” means securities which are listed on a securities exchange licensed by the Commission;

substantial shareholder”, in relation to an issuer, means a person who has an interest in shares of the issuer—

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    (a)     the stated value of which is more than 5% of the issued share capital of the issuer; or

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    (b)     which entitles the person to exercise or control the exercise of more than 5% of the voting power at a general meeting of the issuer.