BC69 ED 10 proposed that only one party, if any, can control an investee. The Board confirmed this in deliberating IFRS 10. (See further comments regarding joint arrangements in paragraph BC83.)

BC70 ED 10 proposed that an investor need not have absolute power to control an investee. Other parties can have protective rights relating to the activities of an investee. For example, limits on power are often imposed by law or regulations. Similarly, other parties - such as non‑controlling interests - may hold protective rights that limit the power of the investor. During its redeliberations the Board confirmed that an investor can control an investee even if other entities have protective rights relating to the activities of the investee. Paragraphs BC93–BC124 discuss rights that give an investor power over an investee.