Defined term	close links
Source	MiCA
Reference	Article 3(1), point (31)
Status	Published
Refresh rule	Regenerate after source legal-text changes

(31) ‘close links’ means close links as defined in Article 4(1), point (35), of Directive 2014/65/EU;

MiCA, Article 3(1), point (31).

MiCA imports this definition from MiFID II.

(35) ‘close links’ means a situation in which two or more natural or legal persons are linked by:

(a) participation in the form of ownership, direct or by way of control, of 20 % or more of the voting rights or capital of an undertaking;

(b) ‘control’ which means the relationship between a parent undertaking and a subsidiary, in all the cases referred to in Article 22(1) and (2) of Directive 2013/34/EU, or a similar relationship between any natural or legal person and an undertaking, any subsidiary undertaking of a subsidiary undertaking also being considered to be a subsidiary of the parent undertaking which is at the head of those undertakings;

(c) a permanent link of both or all of them to the same person by a control relationship;

Open MiFID II definition page

1. MiCA Article 3(1), point (31)
2. MiFID II Article 4(1), point (35)

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• Article 63
• Article 81