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35. In section 116(4)(1)—
(a)the reference to subsidiaries are to be read as references to subsidiary companies within the meaning of section 232 of the Companies Law (2013 Revision); and
(b)the reference to “a holding company” is to be read as a reference to “a parent company” within the meaning of section 232 of the Companies Law (2013 Revision).
Section 116(4) was amended by S.I. 2009/1941, article 2(1) and Schedule 1, paragraph 98(a).
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