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Related party
Practical Law UK Glossary 7-107-7132 (Approx. 5 pages)
Glossary
Related party
In the Listing Rules (LR), a party who is related to a premium listed company in connection with transactions undertaken with the listed company. Related party means any of:
- Substantial shareholder (or a person who was a substantial shareholder in the 12 months before the transaction or arrangement).
- Director or shadow director of the listed company or any other company which is (and, if the person has ceased to be such, was while the person was a director or shadow director of the other company) the listed company's subsidiary undertaking (which is not an insignificant subsidiary undertaking), the listed company's parent undertaking, or a fellow subsidiary undertaking of the listed company's parent undertaking. A person who was, in the 12 months before the transaction or arrangement, such a director or shadow director is also a related party.
- A person exercising significant influence (that is, a person or entity which exercises significant influence over the listed company).
- An associate of any related party set out above.(LR 11.1.4R).
For more information, see Practice note, Listing Rules: LR 11: Related party transactions: Who is a related party?.
In the Disclosure Guidance and Transparency Rules (DTR), related party has the meaning in UK-adopted international accounting standards.
For more information, see Practice note, DTR 7.3: Material related party transactions: Who is a "related party" under DTR 7.3?.