close links
Definition of close links from Regulation (EU) 2023/1114, Article 3(1), point (31).
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Definition of close links from Regulation (EU) 2023/1114, Article 3(1), point (31).
Defined term
close links
Source
MiCA
Reference
Article 3(1), point (31)
Status
Published
Refresh rule
Regenerate after source legal-text changes
(31) 'close links' means close links as defined in Article 4(1), point (35), of Directive 2014/65/EU;
MiCA imports this definition from MiFID II.
(35) 'close links' means a situation in which two or more natural or legal persons are linked by:
(a) participation in the form of ownership, direct or by way of control, of 20 % or more of the voting rights or capital of an undertaking;
(b) 'control' which means the relationship between a parent undertaking and a subsidiary, in all the cases referred to in Article 22(1) and (2) of Directive 2013/34/EU, or a similar relationship between any natural or legal person and an undertaking, any subsidiary undertaking of a subsidiary undertaking also being considered to be a subsidiary of the parent undertaking which is at the head of those undertakings;
(c) a permanent link of both or all of them to the same person by a control relationship;
MiCA Article 3(1), point (31)
MiFID II Article 4(1), point (35)
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