Section 371RB Legal and economic controlF1C1

by means of the holding of shares or the possession of voting power in or in relation to C or any other company, or

by virtue of any powers conferred by the articles of association or other document regulating C or any other company,

if the whole of C's share capital were disposed of, receive (directly or indirectly and whether at the time of the disposal or later) over 50% of the proceeds of the disposal,

if the whole of C's income were distributed, receive (directly or indirectly and whether at the time of the distribution or later) over 50% of the distributed amount, or

in the event of the winding-up of C or in any other circumstances, receive (directly or indirectly and whether at the time of the winding-up or other circumstances or later) over 50% of C's assets which would then be available for distribution.

in paragraph (a) the reference to C's share capital is to C's share capital excluding any share capital held by relevant banks,

in determining for the purposes of paragraph (b) the percentage of the distributed amount which it is reasonable to suppose P would receive, ignore any rights of a relevant bank which would entitle the bank directly to receive a percentage of the distributed amount at the time of the distribution, and

in determining for the purposes of paragraph (c) the percentage of C's assets which it is reasonable to suppose P would receive, ignore any rights of a relevant bank which would entitle the bank directly to receive a percentage of C's assets at the time of the winding-up or other circumstances.

carries on banking business which is regulated in the territory in which RB is resident, and

is acting, in the ordinary course of that business, in relation to money lent to C by RB in the ordinary course of that business.