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What is an affiliate or an affiliated person?
Published on: 20 March 2019
The definition of ‘affiliate’ or ‘affiliated’ in relation to corporate relationships will depend on the context in which a particular relationship arises.
The definition of an ‘affiliated company’ in the context of financial services (in the FCA Handbook) is ‘(in relation to a person) an undertaking in the same group as that person’ where:
- •
‘person’ means ‘…any person, including a body of persons corporate or unincorporate (that is, a natural person, a legal person and, for example, a partnership)…’, and
- •
‘undertaking’ means ‘…(as defined in section 1161(1) of the Companies Act 2006):
(a) a body corporate or partnership; or
(b) an
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Jurisdiction(s):
United Kingdom
Related legal acts:
Key definition:
Affiliated person definition
What does Affiliated person mean?
In relation to the definition of acting in concert, any undertaking in respect of which any person: (a) has a majority of the shareholders’ or members’ voting rights (b) is a shareholder or member and at the same time has the right to appoint or remove a majority of the members of its board of directors (c) is a shareholder or member and alone controls a majority of the shareholders’ or members’ voting rights pursuant to an agreement entered into with other shareholders or members; or (d) has the power to exercise, or actually exercises, dominant influence or control
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