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What is a parent company and a subsidiary company?

A company shall be regarded as the parent company of another company (the subsidiary company) under the following conditions:

    • It holds over 50% of the charter capital or total ordinary shares of such company;
    • It has the right to directly or indirectly decide on the appointment of a majority or all of the members of the Board of Directors and the Director or General director of such company;
    • It has the right to decide on the amendment and supplementation of the charter of such company.

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