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Changes over time for: Cross Heading: Meaning of “subsidiary” and related expressions


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Point in time view as at 20/01/2007. This version of this cross heading contains provisions that are not valid for this point in time.

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Changes to legislation:
Companies Act 2006, Cross Heading: Meaning of “subsidiary” and related expressions is up to date with all changes known to be in force on or before 08 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations.

Changes to Legislation
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Meaning of “subsidiary” and related expressionsU.K.
Yn ddilys o 06/04/2008
1159Meaning of “subsidiary” etcU.K.
(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.
Modifications etc. (not altering text)
Commencement Information
1160Meaning of “subsidiary” etc: power to amendU.K.
(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.
(3)Any amendment made by regulations under this section does not apply for the purposes of enactments outside the Companies Acts unless the regulations so provide.
(4)So much of section 23(3) of the Interpretation Act 1978 (c. 30) as applies section 17(2)(a) of that Act (effect of repeal and re-enactment) to deeds, instruments and documents other than enactments does not apply in relation to any repeal and re-enactment effected by regulations under this section.
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