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Crown Entities Act 2004

Preliminary provisions

7A: Meaning of multi-parent subsidiary

You could also call this:

"What is a multi-parent subsidiary in a company?"

Illustration for Crown Entities Act 2004

You can call a company a multi-parent subsidiary if it is not controlled by one Crown entity. When you look at sections 5 to 8 of the Companies Act 1993, you see that a company is a multi-parent subsidiary if two or more Crown entities together control it. To be a multi-parent subsidiary, the company must be incorporated under the Companies Act 1993, as stated in the Act, which you can find on the New Zealand legislation website https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM319999.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM5461423.

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Part 1Preliminary provisions

7AMeaning of multi-parent subsidiary

  1. A company is a multi-parent subsidiary if, under sections 5 to 8 of the Companies Act 1993,—

  2. the company is not a subsidiary of any one Crown entity; but
    1. if 2 or more Crown entities were treated as 1 entity (a combined entity), with their rights, entitlements, and interests in relation to the company taken together, the company would be a subsidiary of the combined entity.

      1. Despite section 5(3) of the Companies Act 1993, a multi-parent subsidiary must be a company incorporated under that Act.

      Notes
      • Section 7A: inserted, on , by section 5 of the Crown Entities Amendment Act 2013 (2013 No 51).