1162 Parent and subsidiary undertakings
Companies Act 2006 | Legislation

1162  Parent and subsidiary undertakings

(1)     This section (together with Schedule 7) defines “parent undertaking” and “subsidiary undertaking” for the purposes of the Companies Acts.

(2)     An undertaking is a parent undertaking in relation to another undertaking, a subsidiary undertaking, if—

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

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

(c)     it has the right to exercise a dominant influence over the undertaking—

(i)     by virtue of provisions contained in the undertaking's articles, or


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