close links

Definitions over time (1)

21/07/2011 – 20/06/2013 Article 4, Alternative Investment Fund Managers Directive (AIFMD) Scope: Whole act

1. 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:(i)participation, namely ownership, directly or by way of control, of 20 % or more of the voting rights or capital of an undertaking;(ii)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;

Each has its own scope, dates and uses. Open one to see when it applies.

No text uses this concept on 12/11/2026.