This section has no associated Explanatory Notes
44SA company (A) is the 75% subsidiary of another company (B) if B—
(a)is beneficial owner of not less than 75% of the ordinary share capital of A,
(b)is beneficially entitled to not less than 75% of any profits available for distribution to equity holders of A, and
(c)would be beneficially entitled to not less than 75% of any assets of A available for distribution to its equity holders on a winding-up.
Commencement Information
I1 Sch. 10 para. 44 in force at 1.4.2015 by S.S.I. 2015/108 , art. 2