Section 2:

2. For the purposes of this Act “associate”, in relation to— (a) a natural person, means— (i) his or her spouse; (ii) his or her child, parent, brother, sister, stepchild or stepparent and any spouse of any such person; (iii) another person who has entered into an agreement or arrangement with that natural person, relating to the acquisition, holding or disposal of, or the exercising of voting rights in respect of, shares in the insurer concerned; (iv) a legal person whose board of directors acts in accordance with his directions or instructions; (v) a trust administered by him; (b) a legal person— (i) which is a company, means its subsidiary and its holding company and any other subsidiary or holding company thereof; (ii) which is not a company or a close corporation, means another legal person which would have been its subsidiary or holding company— (A) had it been a company; or (B) in the case where that other legal person, too, is not a company, had both it and that other legal person been companies; (iii) means any person in accordance with whose directions or instructions its board of directors acts; (iv) means another legal person whose board of directors acts in accordance with its directions or instructions; (v) means a trust controlled or administered by it. I15 – 81 [Issue 1] Insurance Act THIRD SCHEDULE [Section 131] TRANSITIONAL PROVISIONS