Screening of Third Country Transactions Act 2023
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Connected persons | ||
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3. (1) For the purposes of this Act (and without prejudice to subsection (2)), a person is connected with a third country undertaking if the person is— | ||
(a) a spouse, civil partner, parent, sibling or child of a relevant person, | ||
(b) acting in the capacity as the trustee of any trust, the principal beneficiaries of which are— | ||
(i) a relevant person, | ||
(ii) a person referred to in paragraph (a), or | ||
(iii) an undertaking controlled by a relevant person, | ||
or | ||
(c) in partnership with a relevant person. | ||
(2) Without prejudice to the application of section 18 (c) of the Interpretation Act 2005 to subsection (1)(b), a body corporate shall also be, for the purposes of this Act, connected with a third country undertaking if it is controlled by the third country undertaking or by another undertaking that is controlled by that third country undertaking. | ||
(3) In this section— | ||
“child”, in relation to a relevant person, shall be deemed to include a person who— | ||
(a) is a child of the relevant person’s civil partner, and | ||
(b) ordinarily resides with the relevant person; | ||
“civil partner” has the meaning given to it by the Civil Partnership and Certain Rights and Obligations of Cohabitants Act 2010 ; | ||
“relevant person”, in relation to a third country undertaking, means— | ||
(a) where the third country undertaking is an individual, that individual, or | ||
(b) where the third country undertaking is not an individual, a third country national who exercises control over the undertaking. |