Introduction Equity holders Overview Section 158: Meaning of “equity holder”
626.This section defines “equity holder”. It is based on paragraph 1 of Schedule 18 to ICTA.
627.Subsection (1) establishes that an equity holder may be:
	a shareholder (but only in relation to “ordinary shares” – see section 160); or
	a loan creditor (but only in relation to loans that are not “normal commercial loans” – see section 162).
628.Subsection (2) sets out the tests in section 417 of ICTA (also rewritten in section 453) to determine whether a person is a loan creditor of a company.