A group1 of companies consists of a principal company and all its 75 per cent subsidiaries2. A company cannot be a member of more than one group3. Where a company is a member of a group because it is a 75 per cent subsidiary of another company, its 75 per cent subsidiaries are also members of that group4. A group does not, however, include any company, other than the principal company of the group, which is not an effective 51 per cent subsidiary5 of the principal company of the group6.
A company cannot be the principal company of a group
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