Section 18B(7)

In this regulation, the reference to a person (“P”) directly or indirectly acquiring any ownership interest in or control over a person or entity means— P directly or indirectly acquiring any share in the person or entity; P directly or indirectly acquiring any voting rights in the person or entity; P directly or indirectly acquiring any right to appoint or remove a majority of the board of directors of the person or entity; or P directly or indirectly acquiring any means of ensuring that the affairs of the person or entity are conducted in accordance with the wishes of P where it is reasonable, having regard to all of the circumstances, to expect that P would (if P chose to) in most cases or significant respects, by whatever means, be able to do so.

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Source: legislation.gov.uk · retrieved 2026-08-30