close links
Definitions over time (1)
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18/05/2004 – 20/07/2006 Article 1, Directive 2000/12/EC Scope: Whole act
‘close links’ shall mean a situation in which two or more natural or legal persons are linked by: participation, which shall mean the ownership, direct or by way of control, of 20 % or more of the voting rights or capital of an undertaking, or control, which shall mean the relationship between a parent undertaking and a subsidiary, in all the cases referred to in Article 1(1) and (2) of Directive 83/349/EEC, or a similar relationship between any natural or legal person and an undertaking; any subsidiary undertaking of a subsidiary undertaking shall also be 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.
Earlier definition records in this act (1)
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- Article 1(26) Historical · definitions end 18/05/2004
Used in (0 places in 0 provisions on 12/11/2026)
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