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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 1 August 2004 - onwards
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2A. Definition of 'subsidiary company'.

(1) For the purposes of this Act, a company is a subsidiary of another company if (but only if) -

(a) that other company -

(i) holds a majority of the shareholders' or members' voting rights in the first-mentioned company, or

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

(iii) is a shareholder or member of that company and controls alone, in accordance with an agreement with other shareholders or members, a majority of the shareholders' or members' voting rights,

or

(b) that other company has the right to exercise a dominant influence over the first-mentioned company -

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

(ii) because of a control contract,

or

(c) that other company has a participating interest in the first-mentioned company and -

(i) that other company actually exercises a dominant influence over the first-mentioned company, or

(ii) that other company and the first-mentioned company are manag

Comparing proposed amendment...