Gas Pipeline Uniform Accounting Regulations

80 (1) For the purposes of these Regulations, one company is affiliated with another company if one of them is the subsidiary of the other or both are subsidiaries of the same company or each of them is controlled by the same person.

(2) For the purposes of these Regulations, a company is a subsidiary of another company if

• (a) it is controlled by

  • (i) that other company,

  • (ii) that other company and one or more companies each of which is controlled by that other company, or

  • (iii) two or more companies each of which is controlled by that other company; or

• (b) it is a subsidiary of a company that is subsidiary to that other company.

(3) For the purposes of these Regulations, a company is controlled by another company or person or by two or more other companies if

• (a) shares of the company carrying more than 50 per cent of the votes for the election of directors are held, otherwise than by way of security only, by or for the benefit of that other company or person or by or for the benefit of such other companies; and

• (b) the votes carried by shares referred to in paragraph (a) are sufficient, if exercised, to elect a majority of the board of directors of the company.