Commonwealth Numbered Acts

CORPORATIONS ACT 1989 No. 109 of 1989 - SECT 46

46. A body corporate (in this section called the "first body") is a subsidiary
of another body corporate if, and only if:

   (a)  the other body:

        (i)    controls the composition of the first body's board;

        (ii)   is in a position to cast, or control the casting of, more than
               one-half of the maximum number of votes that might be cast at a
               general meeting of the first body; or

        (iii)  holds more than one-half of the issued share capital of the
               first body (excluding any part of that issued share capital
               that carries no right to participate beyond a specified amount
               in a distribution of either profits or capital); or

   (b)  the first body is a subsidiary of a subsidiary of the other body.