Definition of wholly owned subsidiary
5B.  For the purposes of this Act, a corporation is a wholly owned subsidiary of another corporation if none of the members of the first-mentioned corporation is a person other than —
(a)that other corporation;
(b)a nominee of that other corporation;
(c)a subsidiary of that other corporation being a subsidiary none of the members of which is a person other than that other corporation or a nominee of that other corporation; or
(d)a nominee of such subsidiary.
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