Interpretation of Part 2S
5. For the purposes of this Part—
(a)“relevant entity” means any body corporate or other entity (whether incorporated or not) that is a legal person under the law by which it is governed, other than a person of a type listed in schedule 2,
(b)examples of significant influence and control include, in particular, where a person—
(i)has the right to unilaterally take or veto decisions about the governance and running of a partnership,
(ii)has the right to appoint or remove any partners of a partnership without application to a court, or
(iii)is able to influence the decision-making of a partnership without holding any formal governance position within the partnership, particularly in respect of the partnership’s dealings with land,
(c)for the purposes of paragraph (3)(b)(iv), a person (A) does not exercise significant influence and control over a recorded person or the partnership if A is also a recorded person under paragraph 3(a).
Commencement Information
I1Sch. 1 para. 5 in force at 1.4.2022, see reg. 1