s 402
In forceWhat is a subsidiary
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
402 What is a subsidiary
A company (the first company) is a subsidiary of another company if at least 90% of the issued shares in the first company are owned, other than as trustee, and voting control of the first company is held, by 1 or more of the following companies—
(a)
the other company;
(b)
1 or more other subsidiaries of the other company;
(c)
the other company and 1 or more other subsidiaries of the other company.
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