6AClose associates

#### 6A Close associates 6A Close associates > > (1) In this Act, a person is a close associate, of an applicant for registration as a promoter or manager under this Act or a registered promoter or manager, if— > > > > > (a) the person— > > > > > > > (i) holds or will hold a relevant financial interest, or is or will be entitled to exercise a relevant power, whether in the person’s own right or on behalf of another person, in the business of the applicant or registered promoter or manager, and > > > > > > > (ii) because of that interest or power is or will be able, in the Authority’s opinion, to exercise a significant influence over or in relation to the conduct of the business, or > > > > > (b) the person holds or will hold a relevant position, whether in the person’s own right or on behalf of another person, in the business of the applicant or registered promoter or manager. > > > (2) In this section— > > > > relevant financial interest, in relation to a business, means— > > > > > (a) a share in the capital of the business, or > > > > > (b) an entitlement to receive any income derived from the business, whether the entitlement arises at law or in equity or otherwise. > > > > relevant position means any of the following positions— > > > > > (a) the position of director, manager or secretary, > > > > > (b) another position, however designated, if it is an executive position, > > > > > (c) any other position prescribed by the regulations for the purposes of this definition. > > > > relevant power means any power, whether exercisable by voting or otherwise and whether exercisable alone or in association with others— > > > > > (a) to participate in a directorial, managerial or executive decision, or > > > > > (b) to elect or appoint a person to a relevant position. > > **s 6A:** Ins 2024 No 16, Sch 1\[7\].