Corporations Act 2001
A body corporate (in this section called the first body ) is a subsidiary of another body corporate if, and only if: (a) the other body:
(i) controls the composition of the first body ' s board; or
(ii) is in a position to cast, or control the casting of, more than one-half of the maximum number of votes that might be cast at a general meeting of the first body; or
(b) the first body is a subsidiary of a subsidiary of the other body.
(iii) holds more than one-half of the issued share capital of the first body (excluding any part of that issued share capital that carries no right to participate beyond a specified amount in a distribution of either profits or capital); or
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