Versions

 

Parent undertaking or parent

An undertaking which has the following relationship to another undertaking ("S"):(i) it holds (alone or, under an agreement with other shareholders) a majority of the voting rights in S; or (ii) it is a member of S and has the right to appoint or remove a majority of its board of directors; or (iii) it has the right to exercise a dominant influence over S through: (A) provisions contained in S's memorandum or articles; or (B) a control contract; or (iv) it is a parent undertaking of a parent undertaking of S; or (v) he is an individual and would be a parent undertaking if he were an undertaking; or in relation to (ii) , the undertaking will be treated as a member of S if any of its subsidiary undertakings is a member of S, or if any shares in S are held by a person acting on behalf of the undertaking or any of its subsidiary undertakings.