Section 312F | Section 312B: the office-holder requirement ^F1

From legislation.gov.uk

(1)For the purposes of section 312B, a company meets the officer-holder requirement if the appropriate fraction does not exceed 2/5.^F1

(2)“The appropriate fraction” means—^F1

Formula

\frac{ND}{NE}

where—

ND is the number of persons who are one or both of the following—

a director or other office-holder of the company;

an employee of the company connected with a person within paragraph (a);

NE is the number of persons who are employees (or office-holders) of the company.