rohith
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Hi Can I know, Has the test for determining a holding company/subsidiary relationship changed under the Act?
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narahari
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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 “parent undertaking” and “subsidiary undertaking” in the European Communities (Companies: Group Accounts) Regulations 1992 for the purposes of group accounts into a broad umbrella definition of “holding company” and “subsidiary company”. A “wholly-owned subsidiary” will be defined for the first time under Irish company law.
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phool chandra singh
answered
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 “parent undertaking” and “subsidiary undertaking” in the European Communities (Companies: Group Accounts) Regulations 1992 for the purposes of group accounts into a broad umbrella definition of “holding company” and “subsidiary company”. A “wholly-owned subsidiary” will be defined for the first time under Irish company law.
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