GR-4.2 GR-4.2 Definition of Controller
GR-4.2.1
A
controller of alicensee is a natural or legal person who either alone, or with his associates:(a) Holds 10% or more of the shares in the licensee ("L"), or is able to exercise (or control the exercise of) 10% or more of the voting power in L;(b) Holds 10% or more of the shares in aparent undertaking ("P") of L, or is able to exercise (or control the exercise of ) 10% or more of the voting power in P; or(c) Is able to exercise significant influence over the management of L or P.January 2013GR-4.2.2
For the purposes of Paragraph GR-4.2.1, "associate" includes:
(a) The spouse, son(s) or daughter(s) of acontroller ;(b) An undertaking of which acontroller is a Director;(c) A person who is an employee or partner of thecontroller ; and(d) If the controller is a corporate entity, a Director of thecontroller , a subsidiary of thecontroller , or a Director of any subsidiary undertaking of thecontroller .January 2013GR-4.2.3
Associate also includes any other person or undertaking with which the
controller has entered into an agreement or arrangement as to the acquisition, holding or disposal of shares or other interests in thelicensee , or under which they undertake to act together in exercising their voting power in relation to thelicensee .January 2013