Define: Control
has the meaning given in section 1124 of the Corporation Tax Act 2010, and the expression "Change of Control" shall be construed accordingly;
Legal accuracy standard set & glossary spot-checked by Imad Mohammed Nazar , Skadden-trained M&A lawyer, Legal Engineer at GenieAI
the ability to direct the affairs of another person, whether by virtue of the ownership of shares, by contract, or in any other way;.
Relevant Circumstances
- When a party gains the ability to direct another's affairs by shares, contract or otherwise
- If section 1124 CTA 2010 sets the statutory test for control
- Where change of control triggers termination or pre-emption rights