definiens: shall mean any entity that is controlled by, cont rols, or is under common control with a Party on or after the Effective Date, as the case m ay be . For purposes of this Section 1.1, the term means ( a ) direct or indirect ownership of more than fifty percent ( 50 % ) of the voting interest in the entity in question, or more than fifty percent ( 50 % ) interest in the income of the entity in question ; provided, however, that, if local law requires a minimum percentage of local ownership of greater than fifty percent ( 50 % ), control will be established by direct or indirect beneficia l ownership of one hundred percent ( 100 % ) of the ma ximum ownership percentage that may, under local law, be owned by foreign interests, or ( b ) possession, dire ctly or indirectly, of the power to direct or cause the dir ection of management or policies of the entity in q uestion ( whether through ownership of securities or other o wnership interests, by contract or otherwise )