Introduction Overview Overview Section 1157: Adding fractions together
3296.This section supplements section 1156 for the case where A owns part of the ordinary share capital of the potential “51% subsidiary” or “75% subsidiary” directly as well as having an indirect holding, or where a number of indirect holdings arise because of chains of ownership that have one or more different members. It is based on section 838(6) and (10) of ICTA.