‘qualifying interest’ means an interest held by a company in another company, whether alone or together with any connected persons in relation to that company, that constitutes-

(a)     if that other company is not a listed company, at least-

(i)      50 per cent of the equity shares or voting rights in that other company; or

(ii)     20 per cent of the equity shares or voting rights in that other company if no other person (whether alone or together with any connected person in relation to that person) holds the majority of the equity shares or voting rights in that other company; or

(b)     if that other company is a listed company, at least 10 per cent of the equity shares or voting rights in that other company.