A natural person is not an undertaking if he/she only has a controlling interest [e.g. majority of capital or voting rights] in an enterprise that engages in economic activities [i.e. it is an undertaking]. For a natural person to be considered to be an undertaking he/she must have both a controlling interest in an enterprise and be involved directly or indirectly in its management. Exercising shareholder rights through participating and voting in the annual general meeting of shareholders does not constitute direct or […]
