Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) A company (the subsidiary company ) is a 100% subsidiary of another company (the holding company ) if all the * shares in the subsidiary company are beneficially owned by:
(b) one or more 100% subsidiaries of the holding company; or
(c) the holding company and one or more 100% subsidiaries of the holding company.
(2) However, the subsidiary company is not a 100% subsidiary of the holding company if a person is * in a position to affect rights, in relation to the subsidiary company, of:
(b) a 100% subsidiary of the holding company.
(3) The subsidiary company is also not a 100% subsidiary of the holding company if at some future time a person will be * in a position to affect rights as described in subsection (2).
(4) A company (other than the subsidiary company) is a 100% subsidiary of the holding company if, and only if:
(a) it is a 100% subsidiary of the holding company; or
(b) it is a 100% subsidiary of a 100% subsidiary of the holding company;
because of any other application or applications of this section.
976 - 1 Franked part of a distribution
976 - 5 Unfranked part of a distribution
976 - 10 The part of a distribution that is franked with an exempting credit
976 - 15 The part of a distribution that is franked with a
venture capital credit