Section 191: Meaning of “qualifying subsidiary”
635.This section defines “qualifying subsidiary”. It is based on section 308(2) to (4) and (5B) of ICTA.
636.The term “51% subsidiary” in subsection (2)(a), which is based on section 308(2)(ca) of ICTA, takes its meaning from the definition in section 989. The definition provides a signpost to section 838 of ICTA. Section 308(5B) of ICTA, which applies section 838(2) to (10) to section 308(2)(ca), has not been rewritten as it is unnecessary.