In considering such ownership a person may have regard to the principles of significant control (Companies Act 2006) and a registerable beneficial owner (Economic Crime (Transparency and Enforcement) Act 2022.This includes cases where a person is acting through a company, or chain of companies, under the ownership, control or direction of a foreign power.The foreign power condition applies to direct relationships with the state and indirect relationships.Indirect links and applicability to companies Activity carried out with the intention to benefit a foreign power – this includes cases where a person’s primary motivation is, for example, financial but a person also intends, or acts in virtually certain knowledge, that the foreign power will benefit.
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