Section 721 | When things other than ordinary share capital may be taken into account: Chapters 2 to 5A

(1)This section applies for the purposes of Chapters 2 to 5A if conditions A and B are met.^F1

(2)Condition A is that persons (whether company members or not) possess extraordinary rights or powers under any document regulating a company.

(3)Condition B is that because of that fact ownership of the ordinary share capital may not be an appropriate test of whether there has been a major change in the persons for whose benefit the relief may ultimately enure.

(4)In determining whether there has been a change in the ownership of the company for the purposes of Chapter 2, 2A, 2B, 2C, 2D, 2E, 3, 4 , 5 or 5A , any of the following may be taken into account instead of ordinary share capital—^F2F3F4

(a)holdings of all kinds of share capital,

(b)holdings of any particular kind of share capital,

(c)voting power, and

(d)any other kind of special power.