When is a company a subsidiary of another company?
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Nodiadau Esboniadol
44A company (A) is the 75% subsidiary of another company (B) if B—
(a)is beneficial owner of not less than 75% of the ordinary share capital of A,
(b)is beneficially entitled to not less than 75% of any profits available for distribution to equity holders of A, and
(c)would be beneficially entitled to not less than 75% of any assets of A available for distribution to its equity holders on a winding-up.