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Housing and Regeneration Act 2008

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This is the original version (as it was originally enacted).

271Subsidiary and associate
This section has no associated Explanatory Notes

(1)A company is a “subsidiary” of a person if any of the following conditions is satisfied.

(2)Condition 1 is that the person—

(a)is a member of the company, and

(b)has power, independent of any other person, to appoint or remove all or a majority of the board of directors.

(3)Condition 2 is that the person holds more than half in nominal value of the company’s equity share capital.

(4)Condition 3 is that the company is a subsidiary, within the meaning of the Companies Act 2006 (c. 46) or the Friendly and Industrial and Provident Societies Act 1968 (c. 55), of a company which is a subsidiary of the person by virtue of Condition 1 or 2.

(5)In relation to a company which is an industrial and provident society a reference to the board of directors is a reference to the committee of management.

(6)“Associate” of a provider means—

(a)a body of which the provider is a subsidiary, and

(b)any other subsidiary of that body.

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