close links

Defined in Article 2, European Market Infrastructure Regulation (EMIR)

Definitions over time (3)

1. 18/06/2020 – today applies on 12/11/2026 Article 2, European Market Infrastructure Regulation (EMIR) Scope: Whole act

   For the purposes of this Regulation, the following definitions shall apply:

   ‘close links’ means a situation in which two or more natural or legal persons are linked by: participation, by way of direct ownership or control, of 20 % or more of the voting rights or capital of an undertaking; or control or a similar relationship between any natural or legal person and an undertaking or a subsidiary of a subsidiary also being considered a subsidiary of the parent undertaking which is at the head of those undertakings. A situation in which two or more natural or legal persons are permanently linked to one and the same person by a control relationship shall also be regarded as constituting a close link between such persons.

2. 03/01/2017 – 18/06/2020 Article 2, European Market Infrastructure Regulation (EMIR) Scope: Whole act

   For the purposes of this Regulation, the following definitions shall apply:

   ‘close links’ means a situation in which two or more natural or legal persons are linked by: participation, by way of direct ownership or control, of 20 % or more of the voting rights or capital of an undertaking; or control or a similar relationship between any natural or legal person and an undertaking or a subsidiary of a subsidiary also being considered a subsidiary of the parent undertaking which is at the head of those undertakings.

3. 01/01/2014 – 03/01/2017 Article 2, European Market Infrastructure Regulation (EMIR) Scope: Whole act

   For the purposes of this Regulation, the following definitions shall apply:

   ‘close links’ means a situation in which two or more natural or legal persons are linked by: participation, by way of direct ownership or control, of 20 % or more of the voting rights or capital of an undertaking; or control or a similar relationship between any natural or legal person and an undertaking or a subsidiary of a subsidiary also being considered a subsidiary of the parent undertaking which is at the head of those undertakings. A situation in which two or more natural or legal persons are permanently linked to one and the same person by a control relationship shall also be regarded as constituting a close link between such persons.

Used in (11 places in 7 provisions on 12/11/2026)

European Market Infrastructure Regulation (EMIR) (11 in 7)

Article 2² · Article 30² · Article 33² · Article 78 · Article 80 · Annex I · Annex III²