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Version status: Revoked | Document consolidation status: Updated to reflect all known changes
Version date: 17 June 2015 - onwards
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Regulation 11 Subsidiary undertaking

Revoked from 17 June 2015

(1) For the purpose of Regulations 10 to 19 and Part IV of the Schedule, an undertaking shall be deemed to be a subsidiary of another, if, but only if -

(a) that other -

(i) holds a majority of the shareholders' or members' voting rights in the undertaking, or

(ii) is a shareholder or member of it and controls the composition of its board of directors, or

(iii) is a shareholder or member of it and controls alone, pursuant to an agreement with other shareholders or members, a majority of the shareholders' or members' voting rights;

or

(b) that other has the right to exercise a dominant influence over it -

(i) by virtue of provisions contained in its memorandum or articles, or

(ii) by virtue of a control contract;

or

(c) that other has the power to exercise, or actually exercises, dominant influence or control over it,

or

(ca) that other and the subsidiary undertaking are managed on a unified basis; or

(d) the undertaking is a subsidiary of any undertaking which is that other's subs

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