Who is a Beneficial Owner?

In the case of a body corporate, a Beneficial Owner means any individual who:

1. as respects any body other than a company whose securities are listed on a regulated market, ultimately owns, or controls (whether through direct or indirect ownership or control, including through bearer share holdings) more than 25% of the shares or voting rights in the body; or,
2. as respects any body corporate, otherwise exercises control over the management of the body.

In the case of a partnership (other than a Limited Liability Partnership), the Beneficial Owner means any individual who:

1. ultimately is entitled to or controls (whether the entitlement or control is direct or indirect) more than a 25% share of the capital or profits of the partnership or more than 25% of the voting rights in the partnership; or,
2. otherwise exercises control over the management of the partnership.

In the case of a trust, the Beneficial Owner means:

1. any individual who is entitled to a specified interest in at least 25% of the capital of the trust property;
2. as respects any trust other than one which is set up or operates entirely for the benefit of individuals falling within sub-paragraph (a), the class of persons in whose main interest the trust is set up or operates;
3. any individual who has control over the trust.