(1) For the purposes of this Act, a body corporate is controlled by a person if the person controls votes otherwise than by way of security in a number sufficient to elect a majority of the directors of the body corporate.
(2) For the purposes of this Act—
(a) a body corporate is the holding body corporate of another body corporate if that other body corporate is its subsidiary; and
(b) a body corporate is a subsidiary of another body corporate if it is controlled, directly or indirectly, by that other body corporate.