Schedule 6B, paragraph 2(3)

For the purposes of this Part, A ceases to have control over B if— A ceases to be a beneficial owner within the meaning given by regulation 5 or 6 of the Money Laundering, Terrorist Financing and Transfer of Funds (Information on the Payer) Regulations 2017 of B or P; or if paragraph (a) does not apply, A ceases to be in the position of holding— 10% or more of the shares in B; 10% or more of the voting power in B or P; or 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.

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Source: legislation.gov.uk · retrieved 2026-09-04