Part 1: Registration of Overseas Entities Schedule 2: Registrable beneficial owners Part 5: Supplementary provision about interpretation of Schedule Rights treated as held by a person who controls their exercise
Similar to paragraph 19, paragraph 20 provides that where a person controls a right, the right is treated as held by that person for the purpose of Schedule 2. This means that the controller of the right – and not the holder, unless they are also a controller – is registrable where the relevant conditions are met.
	Paragraph 20(2) sets out when a person has control of a right. This is by reference to an arrangement between a person and others such that the right is only exercisable by that person; in accordance with that person’s directions or instructions; or with that person’s consent or concurrence. The definition of "arrangement" in this paragraph is broad, but as with the meaning given in paragraph 12(3) and (4) provides that there must be a degree of stability about the arrangement. The intention is to exclude one-off actions or decisions which would not equate to "significant control".