SCHEDULE 1Persons who have significant influence or control over another
PART 3Trusts
Interpretation of this Part8
1
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 appoint or remove a trustee of a trust (other than by application to a court),
ii
has the right to direct the distribution of assets or funds of a trust,
iii
has the right to direct investment decisions of a trust,
iv
has the right to amend a trust deed,
v
has the right to revoke a trust, or
vi
otherwise has significant influence or control over the decision-making of a trustee or trust, particularly in respect of the trustee’s or trust’s dealings with the land.
2
For the purposes of paragraph 6(b)(iii), a person (A) does not exercise significant influence and control over a recorded person or the trust if A is also a recorded person in accordance with paragraph 6(a).