Firearms Act 1996

For the purposes of this Act, a person is taken to be a close associate of the holder of or an applicant for a firearms dealer licence if the person (either in his or her own right or on behalf of any other person) – holds or will hold a relevant financial interest or relevant position in the business that is or is proposed to be carried on under the licence and, by virtue of that interest or position, is or will be able to exercise a significant influence over that business; or is entitled to exercise a relevant power over the conduct of the business that is or is proposed to be carried on under the licence.

In this section – relevant financial interest, in a business, means an interest in the capital or assets of the business or an entitlement to receive, in any capacity, any income from the business; relevant position, in a business, means a position whose occupant participates in the management of the business; relevant power, over the conduct of a business, means a power (however exercisable) to participate in any managerial or executive decision or to elect or appoint any person to a relevant position.