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.