equity security

equity security
equity security see security

Merriam-Webster’s Dictionary of Law. . 1996.

equity security
• Shares that carry an unlimited right to participate in a distribution of income and capital (relevant shares).
• A right to subscribe for, or convert securities into, relevant shares (section 94, Companies Act 1985).
For the purposes of the Prospectus Directive, this term refers to shares and other transferable securities (transferable security) equivalent to shares in companies, as well as any other type of transferable securities giving the right to acquire securities as a consequence of their being converted or the rights conferred by them being exercised, provided that securities of the latter type are issued by the issuer of the underlying shares or by an entity belonging to the issuer's group.
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Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

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