General Rule 8.2.1

For the purposes of these QFCA Rules, the definition of "Control" is as follows:

(1) A Person acquires control over a Licensed Firm where the Person:
(A) holds 10% or more of the shares in the Licensed Firm;
(B) is entitled to exercise, or controls the exercise of, 10% or more of the voting power in the Licensed Firm; or
(C) is able to exercise significant influence over the management of the Licensed Firm by virtue of shareholding or voting power, or by contractual or other arrangements, including but not limited to the Licensed Firm's board of directors and chief executive officer.
(2) For purposes of this Article:
(A) shares:
(i) In relation to a Licensed Firm with a share capital, means allotted shares;
(ii) In relation to a Licensed Firm with capital but no share capital, means rights to share in the capital of the Licensed Firm; and
(iii) In relation to a Licensed Firm without capital, means interests conferring any right to share in the profits, or liability to contribute to the losses, of the Licensed Firm; or giving rise to any obligation to contribute to the debts or expenses of the Licensed Firm in the event of winding up; and
(B) voting power, in relation to a Licensed Firm which does not have general meetings at which matters are decided by the exercise of voting rights, means the right under the constitution of the Licensed Firm or alter the terms of its constitution.
Amended (as from 23rd September 2014)