Document ID: chunk:federal_register_of_legislation:C2025C00185:section:46
Version: federal_register_of_legislation:C2025C00185
Segment Type: section
Provision Reference: s 46
Character Range: 281891–282609

46  Meaning of subsidiary—general
  A body corporate (in this section called the first body) is a subsidiary of another body corporate if, and only if:
 (a) the other body:
 (i) controls the composition of the first body's board; or
 (ii) is in a position to cast, or control the casting of, more than one‑half of the maximum number of votes that might be cast at a general meeting of the first body; or
 (iii) holds more than one‑half of the issued share capital of the first body (excluding any part of that issued share capital that carries no right to participate beyond a specified amount in a distribution of either profits or capital); or
 (b) the first body is a subsidiary of a subsidiary of the other body.