close links
Defined in Article 4, Alternative Investment Fund Managers Directive (AIFMD)
Definitions over time (3)
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26/06/2021 – today applies on 12/11/2026 Article 4, Alternative Investment Fund Managers Directive (AIFMD) Scope: Whole act
For the purpose of this Directive, the following definitions shall apply:
‘close links’ means a situation in which two or more natural or legal persons are linked by: participation, namely ownership, directly or by way of control, of 20 % or more of the voting rights or capital of an undertaking; control, namely the relationship between a parent undertaking and a subsidiary, as referred to in Article 1 of the Seventh Council Directive 83/349/EEC of 13 June 1983 on consolidated accounts (^{1}), or a similar relationship between a natural or legal person and an undertaking; for the purposes of this point a subsidiary undertaking of a subsidiary undertaking shall also be considered to be a subsidiary of the parent undertaking of those subsidiaries. A situation in which two or more natural or legal persons are permanently linked to the same person by a control relationship shall also be regarded as constituting a ‘close link’ between such persons;
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13/01/2019 – 26/06/2021 Article 4, Alternative Investment Fund Managers Directive (AIFMD) Scope: Whole act
For the purpose of this Directive, the following definitions shall apply:
‘close links’ means a situation in which two or more natural or legal persons are linked by: participation, namely ownership, directly or by way of control, of 20 % or more of the voting rights or capital of an undertaking; control, namely the relationship between a parent undertaking and a subsidiary, as referred to in Article 1 of the Seventh Council Directive 83/349/EEC of 13 June 1983 on consolidated accounts (^{1}), or a similar relationship between a natural or legal person and an undertaking; for the purposes of this point a subsidiary undertaking of a subsidiary undertaking shall also be considered to be a subsidiary of the parent undertaking of those subsidiaries.
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20/06/2013 – 13/01/2019 Article 4, Alternative Investment Fund Managers Directive (AIFMD) Scope: Whole act
For the purpose of this Directive, the following definitions shall apply:
‘close links’ means a situation in which two or more natural or legal persons are linked by: participation, namely ownership, directly or by way of control, of 20 % or more of the voting rights or capital of an undertaking; control, namely the relationship between a parent undertaking and a subsidiary, as referred to in Article 1 of the Seventh Council Directive 83/349/EEC of 13 June 1983 on consolidated accounts (^{22}), or a similar relationship between a natural or legal person and an undertaking; for the purposes of this point a subsidiary undertaking of a subsidiary undertaking shall also be considered to be a subsidiary of the parent undertaking of those subsidiaries. A situation in which two or more natural or legal persons are permanently linked to the same person by a control relationship shall also be regarded as constituting a ‘close link’ between such persons;
Earlier definition records in this act (1)
Open an entry to see its definitions, dates and uses. Separate scopes and histories are kept intact.
- Article 4(1)(e) Historical · definitions end 20/06/2013