[422 Controller]
[422 Controller]

[(1)     In this Act “controller”, in relation to an undertaking (“B”), means a person (“A”) who falls within any of the cases in subsection (2).

(2)     The cases are where A holds—

(a)     10% or more of the shares in B or in a parent undertaking of B (“P”);

(b)     10% or more of the voting power in B or P; or

(c)     shares or voting power in B or P as a result of which A is able to exercise significant influence over the management of B.

(3)     For the purposes of calculations relating to this section, the holding of shares or voting power by a person (“A1”) includes any shares or voting power held by another (“A2”) if A1 and A2 are acting in concert.

(4)     In this section “shares”—

(a)     in rela

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