(1) For the purpose of this Act, a company is an alien company—
(a) if 50% or more in number of its directors are aliens; or
(b) if 50% or more of the votes exercisable at a meeting of the shareholders or which would be exercisable if a meeting of the shareholders was held, are vested in aliens; or
(c) if the amount paid or payable in any period of 12 months as dividend to those members of the company who are aliens exceed 50% or more of the total amount paid or payable by the Company as dividends in the same period.
(2) An alien company which is a member of another company shall, for the purpose of deciding the status of that other company, be treated as an alien although its representative, if any, appointed under the Companies Act may not himself or herself be an alien.
(3) A company which is a member of another company shall not, for the purpose of subsection (2), be treated as an alien by reason only that its appointed representative is an alien.