SCHEDULE 1Persons who have significant influence or control over another

PART 3Trusts

Interpretation of this Part

8.

(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).