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Commentary

45 Subsidiary

COMMERCIAL CONTRACTS vol 7(2)
| Commentary

45 Subsidiary

| Commentary

45 Subsidiary

There are several sections in the Companies Act 2006 which define subsidiaries.

  1. 45.1

        Subsidiary and holding company1:

    ‘A company is a ‘subsidiary’ of another company, its ‘holding company’, if that other company:

    1. (a)    holds a majority of the voting rights in it, or

      (b)    is a member of it and has the right to appoint or remove a majority of its board of directors, or

      (c)    is a member of it and controls alone, pursuant to an agreement with other members, a majority of the voting rights in it,

    or if it is a subsidiary of a company that is itself

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