This section is not sector-specific
In 2013 the EU published draft guidance on the term "owned and controlled", key elements of which are summarised below. Click here to access the full guidance.
Ownership
1. The criterion to be taken into account when assessing whether a legal person or entity is owned by another person or entity is the possession of more than 50% of the proprietary rights of an entity or having majority interest in it. If this criterion is satisfied, it is considered that the legal person or entity is owned by another person or entity.
Control
2. The criteria to be taken into account when assessing whether a legal person or entity is
controlled by another person or entity, alone or pursuant to an agreement with another
shareholder or other third party, could include, inter alia:
(a) having the right or exercising the power to appoint or remove a majority of the members of
the administrative, management or supervisory body of such legal person or entity;
(b) having appointed solely as a result of the exercise of one's voting rights a majority of the
members of the administrative, management or supervisory bodies of a legal person or entity
who have held office during the present and previous financial year;
(c) controlling alone, pursuant to an agreement with other shareholders in or members of a legal
person or entity, a majority of shareholders' or members' voting rights in that legal person or
entity;
(d) having the right to exercise a dominant influence over a legal person or entity, pursuant to
an agreement entered into with that legal person or entity, or to a provision in its
Memorandum or Articles of Association, where the law governing that legal person or entity
permits its being subject to such agreement or provision;
(e) having the power to exercise the right to exercise a dominant influence referred to in point
(d), without being the holder of that right;
(f) having the right to use all or part of the assets of a legal person or entity;
(g) managing the business of a legal person or entity on a unified basis, while publishing
consolidated accounts;
(h) sharing jointly and severally the financial liabilities of a legal person or entity, or
guaranteeing them.
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