Controller

A controller 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; or
(b) Holds 10% or more of the shares in a parent 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.
Amended: October 2013
Amended: July 2012
Amended: January 2011