close links
Definitions over time (1)
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16/08/2012 – 01/01/2014 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.
Other definitions of this term in this act (1)
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