401
In forceWhat is a parent company
Chapter 10General exemptions
Part 1Exemptions for particular duties for corporate reconstruction
Division 2Some basic concepts about exemptions for duty for corporate reconstructions
Subdivision 2Basic concepts about companies, group companies, parent companies and subsidiaries
401 What is a parent company
A company is the parent company of another company if—
(a)
it directly owns, other than as trustee, at least 90% of the issued shares in the other company; and
(b)
has voting control over the other company.
This Act’s bill:Explanatory memorandum
Research tools for this sectionSubscription
The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.