Companies Act 2014

1087H

F404 [ Definition of subsidiary

1087H. (1) For the purposes of section 7 (definition of subsidiary), in determining whether the lower company is a subsidiary of the superior company, any shares held or power exercisable by a central securities depository (or, as the case may be, a body nominated by that depository) in a relevant issuer for the purpose of the provision of a securities settlement system by that central securities depository (or, as the case may be, a body nominated by that depository) shall be treated as not held or exercisable by that depository (or, as the case may be, the body so nominated).

(2) In subsection (1)

‘shares’ includes relevant securities;

‘lower company’ and ‘superior company’ have the same meaning as they have respectively in section 7 . ]

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F404

Inserted (15.03.2021) by Withdrawal of the United Kingdom from the European Union (Consequential Provisions) Act 2020 (23/2020), s. 12, S.I. No. 98 of 2021.