Section 6(10)
The Payment Services Regulations 2017 · United Kingdom
For the purposes of paragraph (9), an applicant has close links with CL if-- CL is a parent undertaking of the applicant; CL is a subsidiary undertaking of the applicant; CL is a parent undertaking of a subsidiary undertaking of the applicant; CL is a subsidiary undertaking of a parent undertaking of the applicant; CL owns or controls 20% or more of the voting rights or capital of the applicant; or the applicant owns or controls 20% or more of the voting rights or capital of CL.
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Source: legislation.gov.uk · retrieved 2026-09-04