Part 38 Companies: Interpretation (ss 1158-1174)
Part 38 Companies: Interpretation (ss 1158-1174)
Companies Act 2006 | Legislation

1158 Meaning of “UK-registered company”

In the Companies Acts “UK-registered company” means a company registered under this Act.

The expression does not include an overseas company that has registered particulars under section 1046.

1159 Meaning of “subsidiary” etc

(1)     A company is a “subsidiary” of another company, its “holding company”, if that other company—

(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 a subsidiary of that other company.

(2)     A company is a “wholly-owned subsidiary” of another company if it has no members except that other and that other's wholly-owned subsidiaries or persons acting on behalf of that other or its wholly-owned subsidiaries.

(3)     Schedule 6 contains provisions explaining expressions used in this section and otherwise supplementing this section.

(4)     In this section and that Schedule “company” includes any body corporate.

1160 Meaning of “subsidiary” etc: power to amend

(1)     The Secretary of State may by regulations amend the provisions of section 1159 (meaning of “subsidiary” etc) and Schedule 6 (meaning of “subsidiary” etc: supplementary provisions) so as to alter the meaning of the expressions “subsidiary”, “holding company” or “wholly-owned subsidiary”.

(2)     Regulations under this section are subject to negative resolution procedure.

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