Companies Act 2014 section 8

Definitions of "holding company", "wholly owned subsidiary" and "group of companies"

Section 8 defines three key terms used throughout the Companies Act 2014: "holding company", "wholly owned subsidiary", and "group of companies".

• A company is a holding company of another company only if that other company is its subsidiary.
• A wholly owned subsidiary has no members other than its parent company, other wholly owned subsidiaries of that parent, nominees acting for any of these companies, or any combination of these categories.
• A "group of companies" means a holding company together with one or more of its subsidiaries.
• Documents predating this Act that defined "holding company" by reference to section 155 of the Companies Act 1963 remain valid and are not affected by this section unless the parties agree otherwise.