4(1)A person is a disqualified person in relation to a licence granted by the Commission or the Authority if in the opinion of that body—U.K.
(a)any relevant body is, by the giving of financial assistance or otherwise, exerting influence over the activities of that person, and
(b)that influence has led, is leading or is likely to lead to results which are adverse to the public interest.
(2)In sub-paragraph (1) “relevant body”—
(a)in relation to a licence granted by the Commission, means a body falling within paragraph 1(1)(c) to (h) or (j) above or a body which is controlled—
(i)by a person falling within paragraph 1(1)(c) to (g) above, or
(ii)by two or more such persons taken together; and
(b)in relation to a licence granted by the Authority, means a body falling within paragraph 1(1)(c) to (h) or (j) or 3 above or a body which is controlled as mentioned in paragraph (a)(i) or (ii) above.