Hi Can I know, Has the test for determining a holding company/subsidiary relationship changed under the Act?
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The Act combines the definitions of holding company and subsidiary in Section 155 of the Companies Act 1963 and the separate definitions of โparent undertakingโ and โsubsidiary undertakingโ in the European Communities (Companies: Group Accounts) Regulations 1992 for the purposes of group accounts into a broad umbrella definition of โholding companyโ and โsubsidiary companyโ. A โwholly-owned subsidiaryโ will be defined for the first time under Irish company law.
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Dear,
your query is that Has the test for determining a holding company/subsidiary relationship changed under the Act?
answer of your query is that The Act combines the definitions of holding company and subsidiary in Section 155 of the Companies Act 1963 and the separate definitions of โparent undertakingโ and โsubsidiary undertakingโ in the European Communities (Companies: Group Accounts) Regulations 1992 for the purposes of group accounts into a broad umbrella definition of โholding companyโ and โsubsidiary companyโ. A โwholly-owned subsidiaryโ will be defined for the first time under Irish company law.
Thanks & Regards,