Related Commentary  Related HMRC Manuals

1162(1)  This section (together with Schedule 7) defines “parent undertaking” and “subsidiary undertaking” for the purposes of the Companies Acts.

1162(2)  An undertaking is a parent undertaking in relation to another undertaking, a subsidiary undertaking, if–

(a)it holds a majority of the voting rights in the undertaking, or

(b)it is a member of the undertaking and has the right to appoint or remove a majority of its board of directors, or

(c)it has the right to exercise a dominant influence over the undertaking–

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