DUTIES ACT 2001 - SECT 402 What is a subsidiary
DUTIES ACT 2001 - SECT 402
What is a subsidiary402 What is a subsidiary
A company (the
"first company" ) is a
"subsidiary" of another company if at least 90% of the issued shares in the
first company are owned, other than as trustee, and voting control of the
first company is held, by 1 or more of the following companies—
(a) the other company;
(b) 1 or more other subsidiaries of the other company;
(c) the other company and 1 or more other subsidiaries of the other company.