Criminal Justice (Money Laundering and Terrorist Financing) Act 2010

Beneficial owner in relation to partnerships.

27.— In this Part, “beneficial owner”, in relation to a partnership, means any individual who—

(a) ultimately is entitled to or controls, whether the entitlement or control is direct or indirect, more than a 25 per cent share of the capital or profits of the partnership or more than 25 per cent of the voting rights in the partnership, or

(b) otherwise exercises control over the management of the partnership.