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52For the purposes of this Schedule a company (“the subsidiary”) is an effective 51% subsidiary of another company (“the parent”) if, and only if, the parent—
(a)is beneficially entitled to more than 50% of any profits available for distribution to equity holders of the subsidiary, and
(b)would be beneficially entitled to more than 50% of any assets of the subsidiary available for distribution to its equity holders on a winding up.
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