The 50% threshold
A person or entity is significant when it beneficially owns at least 50% equity interest or voting power alone or with associates. Individual associates include grandparents, parents, children, grandchildren, siblings, spouses and partnership partners. Entity association rules involve at least 75% voting capital and more than 50% voting power. Arrangements to act together in acquisition, holding, disposal or voting can also create association, even if informal.
Bare and non-bare trusts
For an identifiable bare-trust beneficiary whose beneficial ownership has vested, test that beneficiary and associates. From 10 May 2022, non-bare-trust conveyances test the trustee and relevant associates, including the non-bare beneficiaries of the trust. Do not combine the trustee’s personal and representative holdings indiscriminately; map capacities and vested interests from the trust instrument.
Official source
A concise, independent Apex Gateway guide based on the official English source, not a reproduction of the complete document. Consult the original for full conditions, exceptions and subsequent updates.
Read the official source ↗