Jurisdiction(s):
United Kingdom

Key definition

Control definition

What does Control mean? In legal practice, control describes who ultimately directs a company or undertaking—typically through majority ownership, voting rights or contractual rights to determine management and policy. In the UK, many contracts define Control by reference to section 1124 of the Corporation Tax Act 2010, which looks to the ability to secure that a company’s affairs are conducted in accordance with a person’s wishes, whether through share capital, voting power or other rights (including those of associates). Where a bespoke definition is used, it commonly means the beneficial ownership of more than 50% of the issued share capital...

Belgium Foreign Investment Screening: Interfederal one-stop regime—scope, 10%/25% triggers, procedure, standstill, remedies, penalties, confidentiality, Flemish ex post mechanism, and 2024/25 developments

Published by a LexisNexis Competition expert

Practice notes

1. What is the applicable legislation?

At national level

From 1 July 2023, Belgium’s foreign direct investment (FDI) screening system entered into force, created by the Cooperation Agreement 2022 concluded between the Federal State and the Belgian Regions and Communities. Non-European investors are required to notify an inter-federal screening committee of plans to invest in a Belgian company active in highly sensitive sectors, or where the transaction could influence national security, public order, or the strategic interests of the Federal State, Regions and Communities.

At regional level

On 7 December 2018, the Flemish Parliament adopted the Administrative Decree (Bestuursdecreet) (Decree 2018), which provides for the screening of foreign investment concerning Flanders’ strategic (semi-) public assets. Although effective since 1 January 2019, it has not yet been applied. Articles III.59 and III.60 introduce an emergency brake intended to safeguard the Flemish Region’s strategic interests. This is an individual ex post measure rather than an ex ante review of anticipated legal acts ( rechsthandelingen ). Notwithstanding the advent of the national screening framework, the Flemish ex post mechanism currently remains in force...

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Annabelle Lepièce

CMS

Annabelle Lepièce specializes in European law, with a focus on competition law (antitrust, State aid, merger control). She also has broad experience in the EU freedoms (services, goods, establishment). Her legal practice includes drafting and submitting notifications of public interventions, individual aids or aids schemes to the European Commission (rescue and restructuring aid, RDI aid, investment aid) and representing the public authorities in European investigations on illegal aids. She advises public entities on the qualification of a measure as state aid, its potential compatibility with EU rules and the setting up of aid schemes, including measures co-financed with European structural funds (RDI aid, de minimis aid, public guarantees, rescue and restructuring aid scheme). She files merger notifications, lodges complaints for abuses of dominant position and represents undertakings in investigations on cartels before national and European Competition...

Web page updated on 27/05/2026

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