48.3  Ownership

The Service Provider represents and warrants to the Authority that at the date of this Contract the legal and beneficial ownership of the Service Provider [and Holdco] as set out in Schedule 20 (Details of the Service Provider) and that [other than any Shareholder pre-emption rights] no arrangements are in place that have or may have or result in any sale, transfer or disposal of any legal, beneficial, equitable or other interest in any or all of the shares in the Service Provider [or Holdco].