Section 46 — Corporations Act 2001 (Cth)

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; or

(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.

Related sections

• s 21 — Carrying on business in Australia or a State or Territory
• s 45A — Meaning of proprietary company, small proprietary company and large proprietary company
• s 45B — Meaning of small company limited by guarantee
• s 47 — Control of a body corporate’s board
• s 48 — Matters to be disregarded
• s 49 — References in this Division to a subsidiary

Research how courts apply s 46

BriefBridge searches Australian caselaw by meaning — every answer cited to the paragraph.