Alpha and Beta, who are married, each own 50% of the common shares of AB Ltd. Their son. Alpha Jr., age 30, and his wife own 40% and 30%, respectively, of the common shares of Junior Ltd. Beta owns the other 30% of the common shares of Junior Ltd.

REQUIRED

Determine whether AB Ltd. and Junior Ltd. are associated. Substantiate your conclusions by the related provisions of the Act and the conditions contained therein.