Article 53Beneficial ownership through control

1. Control over a corporate or other legal entity shall be exercised through ownership interest or via other means.

2. For the purposes of this Chapter, the following definitions apply:

(a)

‘control of the legal entity’ means the possibility to exercise, directly or indirectly, significant influence and impose relevant decisions within the legal entity;

(b)

‘indirect control of a legal entity’ means control of intermediate legal entities in the ownership structure or in various chains of the ownership structure, where the direct control is identified on each level of the structure;

(c)

‘control through ownership interest of the corporate entity’ means direct or indirect ownership of 50 % plus one of the shares or voting rights or other ownership interest in the corporate entity.

3. Control of the legal entity via other means shall in any case include the possibility to exercise:

(a)

in the case of a corporate entity, the majority of the voting rights in the corporate entity, whether or not shared by persons acting in concert;

(b)

the right to appoint or remove a majority of the members of the board or the administrative, management or supervisory body or similar officers of the legal entity;

(c)

The article continues in the official text.