At a particular time, an entity holds a direct voting interest in a company equal to the percentage:

  • of the total paid-up share capital of the company that the entity controls at that time,
  • that the entity holds, or is entitled to acquire at that time, of the total rights to distributions of capital or profits of the company to its shareholders either on winding-up or otherwise than on winding-up.

Where multiple entities are involved, the calculation of direct control interest should be made with reference to the formula in subsection 52ZZF(4) of the VEA.