Document ID: chunk:federal_register_of_legislation:C2025C00014:section:103a:p5
Version: federal_register_of_legislation:C2025C00014
Segment Type: section
Provision Reference: s 103A (pt 5/9)
Character Range: 903870–906470

or to do an act or thing that would prevent the relevant holding company or holding companies from exercising those rights for its or their own benefit or receiving any benefits accruing by reason of those rights.
 (4B) Subject to subsection (4D), a company that is not, by virtue of subsection (4), a subsidiary of a public company for the purposes of this section in relation to the year of income is, for the purposes of this section, a subsidiary of a public company in relation to the year of income if:
 (a) at all times during the year of income the voting power in the first‑mentioned company was controlled, or was capable of being controlled, by a listed company or listed companies, either directly or through one or more companies, trustees or partnerships interposed between the first‑mentioned company and the listed company or listed companies;
 (b) at all times during the year of income a listed company or listed companies had a right to receive, either directly or through one or more companies, trustees or partnerships interposed between the first‑mentioned company and the listed company or listed companies, more than one‑half of any dividends that might be paid by the first‑mentioned company and more than one‑half of any distribution that might be made of capital of the first‑mentioned company;
 (c) at no time during the year of income was a person or were 2 or more persons in a position to affect rights of the listed company or listed companies in connexion with the first‑mentioned company so as to prevent the listed company or listed companies from exercising for its or their own benefit control of the voting power in the first‑mentioned company or from receiving for its or their own benefit more than one‑half of any dividends that might be paid by the first‑mentioned company or of any distribution that might be made of capital of the first‑mentioned company; and
 (d) no agreement was entered into before or during the year of income by virtue of which a person or 2 or more persons would be in a position after the year of income so to affect rights of the listed company or listed companies in connexion with the first‑mentioned company.
 (4C) For the purposes of paragraphs (4B)(c) and (d), a person shall be taken to have been, or to be, in a position at a particular time to affect any rights of a listed company or listed companies in connexion with another company if at that time that person had, or has, a right, power or option (whether by virtue of any provision in the constituent document of the other company or of any company interposed between