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(1)In this Part “associate”, in relation to a registered social landlord, means—
(a)any body of which the landlord is a subsidiary, and
(b)any other subsidiary of such a body.
(2)In this section “subsidiary” has the same meaning as in the [1985 c. 6.] Companies Act 1985 or the [1968 c. 55.] Friendly and Industrial and Provident Societies Act 1968 or, in the case of a body which is itself a registered social landlord, has the meaning given by section 60.
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