635.This section defines “qualifying subsidiary”. It is based on section 308(2) to (4) and (5B) of ICTA.
636.The term “51% subsidiary” in subsection (2)(a), which is based on section 308(2)(ca) of ICTA, takes its meaning from the definition in section 989. The definition provides a signpost to section 838 of ICTA. Section 308(5B) of ICTA, which applies section 838(2) to (10) to section 308(2)(ca), has not been rewritten as it is unnecessary.
Commentary on Sections Overview Overview Section 191: Meaning of “qualifying subsidiary”