Is there a statutory or common law definition of 'affiliate'?

Companies are affiliated when one company is a minority shareholder of another. In most cases, the parent company will own less than a 50% interest in its affiliated company. . he Companies (Amendment) Act, 2017, which received presidential assent and was notified on 3 January 2018, has amended various definitions under the Companies Act, 2013. Some of the important amendments to definitions include the following: Associate company. An associate company to another company under the 2013 act means a The definition of a Group of companies as per the new Companies Act has changed. The new Companies Act defines a group of companies as two or more companies that share a holding company or subsidiary relationship. A holding company in relation to the subsidiary is defined as a juristic person or undertaking that controls a subsidiary. Definition of Affiliate. For all purposes of this Section 7, the term “Affiliate” means, with respect to a specified entity, (i) an entity (other than Warburg Pincus LLC (or private equity funds managed thereby) or Citigroup Inc.) that directly or indirectly, through one or more intermediaries, owns more than 50% of the outstanding voting securities of the Company, and (ii) an entity that The Companies Act 2006 is the main piece of legislation which governs company law in the UK. It is the longest piece of legislation ever enacted in the UK, with over 1,300 sections. Following eight years of consultation, the final provisions of the Act became law in October 2009. The prime aims of the Act […]

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