SCHEDULE 1Persons who have significant influence or control over another

PART 2Partnerships

ApplicationI13

This Part applies to a person (the associate) where—

a

the person who owns or tenants the land (the recorded person)—

i

does so as a partner in a partnership or on its behalf, or

ii

is a partnership, and

b

the associate—

i

is a general partner of the recorded person, but is not registered as owning or leasing the land,

ii

is a general partner of another partnership which is (of itself) a partner of the recorded person,

iii

is an individual who has significant influence or control over a relevant entity which is a partner of the recorded person,

iv

is an individual who has the right to exercise, or who actually exercises, significant influence or control over the recorded person or a partnership in which the recorded person is a partner.

ExceptionsI24

This Part does not apply to a person where that person’s relationship to the partnership is only that of—

a

a paid professional advisor to the partnership (such as a solicitor or an accountant),

b

a creditor of the partnership (such as the holder of a standard security),

c

an administrator of the partnership in insolvency proceedings, or

d

a member of the judiciary presiding over proceedings in connection with the partnership.

Interpretation of Part 2I35

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).