> For the complete documentation index, see [llms.txt](https://www.mica.wtf/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://www.mica.wtf/definitions/definitions/mifid-ii/close-links.md).

# close links

|                  |                                            |
| ---------------- | ------------------------------------------ |
| **Defined term** | close links                                |
| **Source**       | MiFID II                                   |
| **Reference**    | Article 4(1), point (35)                   |
| **Status**       | Published                                  |
| **Refresh rule** | Regenerate after source legal-text changes |

## Definition

> (35) '[close links](/definitions/definitions/mica/close-links.md)' 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](/definitions/definitions/dora/parent-undertaking.md) and a [subsidiary](/definitions/definitions/dora/subsidiary.md), 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;

## Source

[MiFID II, Article 4(1), point (35)](https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A02014L0065-20260606).

## Used In MiCA

* [Article 61](https://www.mica.wtf/mica/title-v-authorisation-and-operating-conditions-for-crypto-asset-service-providers-art.-59-85/chapter-1/article-61)
* [Article 63](https://www.mica.wtf/mica/title-v-authorisation-and-operating-conditions-for-crypto-asset-service-providers-art.-59-85/chapter-1/article-63)
* [Article 81](https://www.mica.wtf/mica/title-v-authorisation-and-operating-conditions-for-crypto-asset-service-providers-art.-59-85/chapter-3/article-81)


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