GENE 8.1.4 Meaning of increases control

(1) A controller increases control over an authorised firm if:
(a) the controller (whether alone or together with 1 or more associates) acquires a different type of control over the firm;
(b) the controller becomes a parent entity of the firm;
(c) the percentage of shares held by the controller (whether alone or together with 1 or more associates) in the firm or in a parent entity of the firm increases from, or below, a level mentioned in subrule (2) to above that level; or
(d) the percentage of voting power that the controller (whether alone or together with 1 or more associates) is entitled to exercise, or control the exercise of, in the firm or in a parent entity of the firm increases from, or below, a level mentioned in subrule (2) to above that level.
(2) The levels for increased control are 24%, 49% and 74%.
Inserted by QFCRA RM/2014-1 (as from 1st February 2014).