Acquisition of control

(1) For the purposes of sections 287 to 292, control, in the case of non-listed companies, means the acquisition of more than 50 percent of the voting rights of these companies.
(2) In calculating the proportion of voting rights held by the relevant AIF, the following voting rights are, in addition to the voting rights held directly by the AIF in question, also taken into account in determining control under subsection (1):
1. those of undertakings controlled by the AIF, and
2. those of natural or legal persons acting in their own name but on behalf of the AIF or of an undertaking controlled by the AIF. The proportion of voting rights is calculated on the basis of the total number of units carrying voting rights, even where the exercise of these voting rights is suspended.
(3) Control in relation to issuers is defined, for the purposes of sections 290 and 292, in accordance with Article 5(3) of Directive 2004/25/EC of the European Parliament and of the Council of 21 April 2004 on takeover bids (OJ L 142, 30.4.2004, p. 12).