[(1) This section explains some key terms used in this Part.
(2) References to a person with (or having) “significant control” over a company are to an individual who meets one or more of the specified conditions in relation to the company.
(3) The “specified conditions” are those specified in Part 1 of Schedule 1A.
(4) Individuals with significant control over a company are either “registrable” or “non-registrable” in relation to the company—
[(a) they are “non-registrable” if they do not hold any interest in the company except through one or more legal entities over each of which they have significant control and—
(i) as respects any shares or right in the company which they hold indirectly as described in paragraph 9(1)(b)(i) of Schedule 1A, the legal entity through which the shares or right are held is a relevant legal entity in relation to the company; and
(ii) as respects any shares or right in the company which they hold indirectly as described in paragraph 9(1)(b)(ii) of Schedule 1A, at least one of the legal entities in the chain is a relevant legal entity in relation to the company;]
(b) otherwise, they are “registrable”,
and references to a “registrable person” in relation to a company are to an individual with significant control over the company who is registrable in relation to that company.
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