Who are our Group Companies?
Our 'Group Companies' means any of the companies listed below:
Galliard Developments Limited, The Property Club Holdings Limited and any of their respective 'Group Companies' from time to time, as defined below.
'Group Companies' means in relation to a company:
a) that company; and
b) any subsidiary companies or any holding companies of that company from time to time; and
c) any subsidiary companies of a holding company of that company from time to time; and
d) any holding companies of a company falling within the definition of (b) and (c) above from time to time; and
e) any subsidiary company of a company falling with (b) or (c) or (d) above from time to time.
For the purposes of this definition of 'Group Companies':
A company is a "subsidiary" of another company, its "holding company", if that other company directly or indirectly:
a) holds 50% or more of the issued share capital in the subsidiary;
b) holds 50% or more of the total voting and/or economic rights in the subsidiary; or
c) has the right to appoint or remove 50% or more of the directors of the subsidiary;
or if it is a subsidiary of a company that is itself a subsidiary of that other company.
A "company" means a company, corporation, undertaking, or partnership (whether or not a legal person), wherever incorporated.