Sch 7 para 12
(1) For the purposes of this Part of this Schedule a company is an associate of the supplier if— (a) the company is a wholly owned subsidiary of the supplier; (b) the supplier is a wholly owned subsidiary of the company; or (c) the company and the supplier are both wholly owned subsidiaries of another company; and the company is registered under the Companies Act 1985 as a company limited by shares. (2) The references in sub-paragraph (2) to a wholly owned subsidiary shall be construed in accordance with section 736 of the Companies Act 1985.