close links

Defined in Article 2, Undertakings for Collective Investment in Transferable Securities Directive (UCITS)

Definitions over time (2)

1. 07/01/2020 – today applies on 12/11/2026 Article 2, Undertakings for Collective Investment in Transferable Securities Directive (UCITS) Scope: Whole act

   For the purposes of this Directive the following definitions apply:

   ‘close links’ means a situation in which two or more natural or legal persons are linked by either: ‘participation’, which means the ownership, direct or by way of control, of 20 % or more of the voting rights or capital of an undertaking; or ‘control’, which means the relationship between a ‘parent undertaking’ and a ‘subsidiary’, as defined in Articles 1 and 2 of Seventh Council Directive 83/349/EEC of 13 June 1983 based on the Article 54(3)(g) of the Treaty on consolidated accounts (^{1}) and 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;

2. 04/01/2011 – 01/01/2019 Article 2, Undertakings for Collective Investment in Transferable Securities Directive (UCITS) Scope: Whole act

   For the purposes of this Directive the following definitions apply:

   ‘close links’ means a situation in which two or more natural or legal persons are linked by either: ‘participation’, which means the ownership, direct or by way of control, of 20 % or more of the voting rights or capital of an undertaking; or ‘control’, which means the relationship between a ‘parent undertaking’ and a ‘subsidiary’, as defined in Articles 1 and 2 of Seventh Council Directive 83/349/EEC of 13 June 1983 based on the Article 54(3)(g) of the Treaty on consolidated accounts (^{10}) and 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;

Used in (10 places in 5 provisions on 12/11/2026)

Undertakings for Collective Investment in Transferable Securities Directive (UCITS) (10 in 5)

Recital 81 · Article 2² · Article 7³ · Article 29³ · Article 106