connected persons

connected persons

persons who deal with each other otherwise than at arm's length. Examples include members of the same family, companies within the same group, trusts and trustees, companies and their shareholders, partners and their families. The relevance of the concept is primarily in the field of insolvency and taxation.
References in periodicals archive ?
As a result, no director, employee, the person discharging managerial duties, adviser and consultant of the Oando and their connected persons may, directly or indirectly, deal in the shares of the firm during the closed period until 24 hours have elapsed after the release of the 2017 Audited Financial Statements on the local bourse.
It added that the stock will be placed out to third party investors not including directors, major stockholders, connected persons and nominee corporations to be identified at a later date.
The company shall separately maintain certain registers in addition to the books of account as required under the Act containing information about donors, donations, beneficiaries, connected persons of the company who have received any disbursement and details of projects undertaken by the company.
The obligation to monitor their shareholding and to file a Connected Persons report within the required five day period rests with the shareholder.
WITH the Securities and Exchange Board of India's ( Sebi) new insider trading norms kicking in from Friday, leading companies like Bajaj Auto, Ashok Leyland, HDFC and Yes Bank have framed their code of conduct to regulate and report stock trades by promoters, top executives, their relatives and connected persons.
In case of connected persons the onus of establishing, that they were not in possession of unpublished price sensitive information should be on such connected persons," said Sebi.
Namibia introduced transfer pricing legislation in 2005, aimed at enforcing the internationally accepted arm's length principle in cross-border transactions carried out between connected persons.
Transactions with connected persons are a key area of risk as these are often subsequently interpreted as a transaction at undervalue if assets are transferred, or 'preference' whereby one party (for example a shareholder, director) is put in a better position than they would have been if the company subsequently became insolvent.
Jahangir Siddiqui to accept the illegal demands of various politically connected persons.
To the best of the Directors' knowledge, information and belief having made all reasonableenquiries, the Subscribers are third parties independent of the Group and its connected persons.
Provider of investment products and services Hargreaves Lansdown plc (LSE:HL) received notification of its ordinary shares transaction of directors, Persons Discharging Managerial Responsibility (PDMR) or connected persons under Disclosure Rules 3.
These Orders in Council have recently been republished with a number of amendments, relating to the disclosure of information about insurance business, rating-contingent limits on exposures to connected persons, credit rating information in respect of large credit exposures, and additional New Zealand balance sheet information by banks that are branches of overseas banks.
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