(1) This section (together with Schedule 7) defines "parent undertaking" and "subsidiary undertaking" for the purposes of the Companies Acts.
(2) An undertaking is a parent undertaking in relation to another undertaking, a subsidiary undertaking , if -
(a) it holds a majority of the voting rights in the undertaking, or
(b) it is a member of the undertaking and has the right to appoint or remove a majority of its board of directors, or
(c) it has the right to exercise a dominant influence over the undertaking -
(i) by virtue of provisions contained in the undertaking's articles, or
(ii) by virtue of a control contract, or
(d) it is a member of the undertaking and controls alone, pursuant to an agreement with other shareholders or members, a majority of the voting rights in the undertaking.
(3) For the purposes of subsection (2) an undertaking shall be treated as a member of another undertaking -
(a) if any of its subsidiary undertakings is a member of that undertaking, or
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