5 Control
beneficially owns securities of the body corporate to which are
attached more than 50% of the votes that may be cast to elect
directors of the body corporate and the votes attached to those
securities are sufficient, if exercised, to elect a majority of the
directors of the body corporate.
(2) A person controls an unincorporated body if the person holds
or beneficially owns more than 50% of the beneficial interest,
however designated, into which the body is divided and the person
is able to direct the affairs of the entity.
(3) Despite subsections (1) and (2), a person controls an entity if
the person has, in relation to the entity, any direct or indirect
influence that, if exercised, would result in control in fact of the
entity.
(4) A holding body corporate is deemed to control any entity that
is controlled or deemed to be controlled by a subsidiary of the
holding body corporate.
(5) An entity that controls another entity is deemed to control any
entity that is controlled or deemed to be controlled by the other
entity.
1999 cI-5.1 s5
RSA 2000