Duties Act 2001

section 403 Parent companies— Company A owns 90% of the shares in, and has voting control over, companies B and E. Under section 401, company A is the parent company of companies B and E. Company B owns 90% of the shares in, and has voting control over, company C. Under section 401, company B is the parent company of company C. Company C owns 90% of the shares in, and has voting control over, company D. Under section 401, company C is the parent company of company D. No company is the parent company of company F, because no company holds 90% of its issued shares, and has voting control, over it. Subsidiaries— Under section 402—

• companies B and E are subsidiaries of company A

• company C is a subsidiary of company B and, because company B is a subsidiary of company A, company C is also a subsidiary of company A

• company D is a subsidiary of company C and, because company C is a subsidiary of companies B and A, company D is also a subsidiary of companies A and B.

• company F is a subsidiary of company A because company A, with its subsidiary company E, holds 90% of the issued shares in, and has voting control over, company F.

Group companies— Under section 400(2), all the companies are group companies because companies B, C, D, E and F are subsidiaries of company A. Corporate group— Under section 400(4), the corporate group comprises the group companies A, B, C, D, E and F.