Investment of the National Pensions Reserve Fund and Miscellaneous Provisions Act 2009

Amendment of section 15 (Commission shall not control company) of Principal Act.

4.— Section 15 of the Principal Act is amended—

(a) in subsection (1) by substituting “Subject to subsections (3) and (4), the Commission” for “The Commission”, and

(b) by inserting after subsection (2)—

“(3) A reference to a company in subsection (1) does not include a Commission investment vehicle.

(4) Subsection (1) does not apply in relation to a holding of shares or the possession of voting or other rights constituting or resulting from a directed investment.”.