(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,