SCHEDULE 3Meaning of associated undertaking

1For the purposes of section 49 (power to make arrangements for risk mitigation) of this Act an “associated undertaking” of TfL means an undertaking in which TfL has a participating interest and over whose operating and financial policy it exercises a significant influence, and which is not—

(a)a subsidiary undertaking of TfL (within the meaning of section 1162 of the Companies Act 2006 (c. 46)), or

(b)a joint venture.