Common use of CONNECTED PARTIES Clause in Contracts

CONNECTED PARTIES. Unless permitted by guidelines issued by any authority which has jurisdiction over the Bank:- (a) the Customer and/or any of his close relatives are not a director (including alternate director) in the Bank or any of the financial institutions in the Group; (b) the Customer and/or his close relatives are not a controlling shareholder or influential shareholder in the Bank or any of the financial institutions in the Group; (c) the Customer is not an executive officer or designated officer of the Bank; (d) the Customer is not a firm, partnership, company or any other legal entity:- (i) which is in control of or is controlled by any persons stated in Clause 2.1.16(a) to (c); or (ii) in which any person (including their close relatives in the case of individual) listed in Clause 2.1.16(a) to (c) other than a designated officer is interested as a director, partner, executive officer, agent or guarantor and their subsidiaries or entities controlled by them. For the purpose of this Clause:-