Security Industry Act 2003

In section 21:

close associate, of a person (the relevant person), means—

a person who—

holds or will hold a financial interest, or is or will be entitled to exercise a relevant power, in the relevant person’s business; and

the commissioner for fair trading is satisfied, is or will be able to exercise a significant influence in relation to the conduct of the business because of the interest or power; or

a person who holds or will hold an executive office in the relevant person’s business.

In this section:

executive office, in a business, means a position (however described) in which the person is concerned with, or takes part in, the management of the business.

exercise a power includes exercise the power on behalf of someone else.

financial interest, in relation to a business, means—

a share in the capital of the business; or

an entitlement to receive income derived from the business, however the entitlement arises.

hold a position includes hold the position on behalf of someone else.

power means a power exercisable—

by voting or otherwise; and

alone or with others.

relevant power, in relation to a business, means a power—

to take part in a directorial, managerial or executive decision for the business; or

to elect or appoint a person to an executive office in the business.