Commentary

26 Basic definitions in the Companies Act 2006

COMPANIES vol 11 acquisitions, mergers, demergers
| Commentary

26 Basic definitions in the Companies Act 2006

| Commentary

26 Basic definitions in the Companies Act 2006

The main definitions in the Companies Act 2006 relating to company groups, as well as a range of other provisions, are as follows:

  1. 26.1

        Subsidiary: Under Section 1159(1) a company is a subsidiary of another company (its holding company) if that other company:

    1. 26.1.1

          holds a majority of the voting rights in it; or

    2. 26.1.2

          is a member of it and has the right to appoint or remove a majority of its board of directors; or

    3. 26.1.3

          is a member of it and controls alone, under the terms of an agreement with

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