Parent Undertaking or Parent

An undertaking or individual ('P'), which has the following relationship to another undertaking ('S'):

(i) P holds (alone or, under an agreement with other shareholders) a majority of the voting rights in S;
(ii) P (alone or in conjunction with its other subsidiary undertakings), has the right to appoint or remove a majority of its board of directors;
(iii) P has the right to exercise a dominant influence over S, either through provisions contained in S's memorandum or articles, or a control contract; or
(iv) P is a parent undertaking of a parent undertaking of S.
Amended: January 2014