Section 1159(1)

A company is a “subsidiary” of another company, its “holding company”, if that other company— or if it is a subsidiary of a company that is itself a subsidiary of that other company. holds a majority of the voting rights in it, or is a member of it and has the right to appoint or remove a majority of its board of directors, or is a member of it and controls alone, pursuant to an agreement with other members, a majority of the voting rights in it,

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Source: legislation.gov.uk · retrieved 2026-09-04