Significant Individual - Indirect Control
individual(s). This can happen when a shareholder or rightsholder of your company:
- is not a natural person (human being), or
- is a natural person but is holding the votes or shares on behalf of or for the benefit of another.
- Indirect control through one intermediate entity or person (simple structures)
- Indirect control through two or more entities or persons (complex structures)
- Special Rules for Indirect Control
Each type of intermediate entity or person has its own test of control set out in the amendments to the Business Corporations Regulation.
Most companies where indirect control is relevant will fall under the first category (Indirect control through one intermediate entity or person), which covers simpler cases. However, if your business has a more complex structure or you have trouble identifying significant individuals with indirect control, please consider contacting a lawyer for help.