s 1159 Meaning of “subsidiary” etc
(1) A company is a “subsidiary” of another company, its “holding company”, if that other company— (a) holds a majority of the voting rights in it, or (b) is a member of it and has the right to appoint or remove a majority of its board of directors, or (c) is a member of it and controls alone, pursuant to an agreement with other members, a majority of the voting rights in it, or if it is a subsidiary of a company that is itself a subsidiary of that other company. (2) A company is a “wholly-owned subsidiary” of another company if it has no members except that other and that other's wholly-owned subsidiaries or persons acting on behalf of that other or its wholly-owned subsidiaries. (3) Schedule 6 contains provisions explaining expressions used in this section and otherwise supplementing this section. (4) In this section and that Schedule “ company ” includes any body corporate.