Part 12 Supplementary provisions
Chapter 6 Final provisions
General interpretation
574 Meaning of “control”
(1)
In this Act “ control ” is used in the sense given in this section F1(but, for the purposes of section 575, this definition applies only where expressly indicated).
(2)
In relation to a body corporate (“ company A ”), “ control ” means the power of a person (“ P ”) to secure—
(a)
by means of the holding of shares or the possession of voting power in relation to that or any other body corporate, or
(b)
as a result of any powers conferred by the articles of association or other document regulating that or any other body corporate,
that the affairs of company A are conducted in accordance with P’s wishes.
(3)
In relation to a partnership, “ control ” means the right to a share of more than half of the assets, or of more than one half of the income, of the partnership.