Two distinct statutory concepts govern holding and subsidiary company relationships. The definition of 'parent and subsidiary undertaking' is the basis for consolidated accounts for groups of companies. This is to be distinguished from the general definition of holding and subsidiary company used elsewhere in the Companies Acts, other legislation, and in contracts. Holding and subsidiary companies The term 'company' in the Companies Act 2006 (CA 2006), s 1159 (ie both as to holding and subsidiary companies) includes any body corporate (CA 2006, s 1159(4)). It does not, therefore, have the wide reach of the term 'undertaking'. It does, however, include sub-subsidiaries. CA 2006, s 1159(1) defines a company as a ‘subsidiary’ of another company, its ‘holding company’, if that other company: • holds a majority of the voting rights in it, or • is a member of it and has the right to appoint or remove a majority of its board of directors, or • is a member of it and controls alone, pursuant to an agreement