ADVOKS GLOBAL · KENYA
The Companies (General) Regulations
4. Provisions supplementing definitions of "parent undertaking" and "subsidiary undertaking"
Edition: 2022-12-31 · In force
4. Provisions supplementing definitions of "parent undertaking" and "subsidiary undertaking"
(1)For the purposes of the definition of "parent undertaking" in section 3(1) of the Act, an undertaking is also a parent undertaking of another undertaking if—(a)it has the power to exercise, or actually exercises, dominant influence or control over it; or(b)it and the subsidiary undertaking are managed on a unified basis.(2)An undertaking is also a subsidiary undertaking of another undertaking if, because of paragraph (1), the other undertaking is the parent of the undertaking.(3)A parent undertaking is taken to be the parent undertaking of undertakings in relation to which any of its subsidiary undertakings are, or are taken to be, parent undertakings; and references to its subsidiary undertakings are to be interpreted accordingly.(4)The Second Schedule contains provisions explaining the definition of "parent undertaking" and "subsidiary undertaking" as used in the Act and otherwise supplementing those definitions.(5)In this paragraph and the Second Schedule, references to shares (of an undertaking) are to allotted shares.