Legal Dictionary of Pakistan

control person

Securities. A person who has actual control or significant influence over the issuer of securities, as by directing corporate policy. ( The control person is subject to many of the same requirements applicable to the sale of securities by the issuer. - Also termed controlling person."[Tlhe question of who is a control person " highly factual and is not dependent upon ownership of any specific percentage. For example, it has been held that someone owning eight percent of a company's stock was not a control person ...." 1 Thomas Lee Hazen, The Law of Securities Regulation § 4.24, at 279 (3d ed. 1995).