OpenLegislation

Paragraph 4 C1C2C3C4C5

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

(1)

For the purposes of section 1162(2)(c) an undertaking shall not be regarded as having the right to exercise a dominant influence over another undertaking unless it has a right to give directions with respect to the operating and financial policies of that other undertaking which its directors are obliged to comply with whether or not they are for the benefit of that other undertaking.

(2)

A “control contract” means a contract in writing conferring such a right which—

(a)

is of a kind authorised by the articles of the undertaking in relation to which the right is exercisable, and

(b)

is permitted by the law under which that undertaking is established.

(3)

This paragraph shall not be read as affecting the construction of section 1162(4)(a).

Annotations

Modifications

C1

Sch. 7 para. 4 modified (10.1.2024) by Online Safety Act 2023 (c. 50), s. 240(1), Sch. 15 para. 8; S.I. 2023/1420, reg. 2(z24)

C2

Sch. 7 applied (with modifications) (10.1.2024) by Online Safety Act 2023 (c. 50), s. 240(1), Sch. 13 para. 5(8); S.I. 2023/1420, reg. 2(z17)(z36)

C3

Sch. 7 applied (with modifications) (10.1.2024) by Online Safety Act 2023 (c. 50), s. 240(1), Sch. 15 para. 9; S.I. 2023/1420, reg. 2(z24)

C4

Sch. 7 applied (with modifications) (23.8.2024) by 2003 c. 21, Sch. 16B para. 8 (as inserted by Media Act 2024 (c. 15), s. 55(3)(g), Sch. 11; S.I. 2024/858, reg. 2(1)(z5))

C5

Sch. 7 para. 4 modified (23.8.2024) by 2003 c. 21, Sch. 16B para. 7 (as inserted by Media Act 2024 (c. 15), s. 55(3)(g), Sch. 11; S.I. 2024/858, reg. 2(1)(z5))

Notes on Schedule 7

Modifications

C1

Sch. 7 applied (with modifications) (1.10.2008) by The Limited Liability Partnerships (Accounts and Audit) (Application of Companies Act 2006) Regulations 2008 (S.I. 2008/1911), reg. 52

C2

Sch. 7 modified (14.3.2012) by Charities Act 2011 (c. 25), ss. 55(3), 58, 355 (with ss. 20(2), 59, Sch. 8)

C3

Sch. 7 applied (with modifications) (26.10.2023) by Online Safety Act 2023 (c. 50), ss. 70(8), 240(4)

C7

Sch. 7 applied (4.2.2025) by S.I. 2014/2080, art. 7A(7) (as inserted by The Financial Services and Markets Act 2000 (Ring-fenced Bodies, Core Activities, Excluded Activities and Prohibitions) (Amendment) Order 2025 (S.I. 2025/30), arts. 1(2), 9(3))