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Version status: In force | Document consolidation status: Updated to reflect all known changes
Version date: 6 April 2001 - onwards
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9. Subsidiaries.

(1) For the purposes of the Tax Acts, except where otherwise provided, a company shall be deemed to be -

(a) a "51 per cent subsidiary" of another company if and so long as more than 50 per cent of its ordinary share capital is owned directly or indirectly by that other company,

(b) a "75 per cent subsidiary" of another company if and so long as not less than 75 per cent of its ordinary share capital is owned directly or indirectly by that other company,

(c) a "90 per cent subsidiary" of another company if and so long as not less than 90 per cent of its ordinary share capital is directly owned by that other company,

(d) a 'wholly-owned subsidiary' of another company if and so long as 100 per cent of its ordinary share capital is directly owned by that other company.

(2) In paragraphs (a) and (b) of subsection (1), "owned directly or indirectly" by a company means owned whether directly or through another company or other companies or partly directly and partly through another company o

Comparing proposed amendment...