T-11.011 - Lobbying Transparency and Ethics Act

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12. A legal person is considered to be a subsidiary of another legal person if
(1)  securities of the legal person to which are attached more than 50 % of the votes that may be cast to elect directors of the legal person are held, otherwise than by way of security, by or for the benefit of the other legal person ; and
(2)  the votes attached to such securities are sufficient to elect a majority of the directors of the legal person.
2002, c. 23, s. 12.