a) The shareholding and voting rights of X Limited are as follows: Shareholding and voting rights owned 40% 10% A Limited B Limited C Limited (note 1) D Limited (note 1) other investors (note 2) 5% 4% 41% Notes: 1. C Limited is a wholly-owned subsidiary of D Limited. 2. The 41% interests of X Limited were held by 45 other dispersed investors. None of these 45 other dispersed investors holds more than 1% of the interests of X Limited. Required: Discuss which company has power over X Limited, with explanation on relevant requirements of financial reporting standard. (10 marks) b) E Limited and G Limited own 60% and 40% of shareholding of Y Limited respectively. G Limited also holds option which is exercisable currently to acquire 50% of shares of Y Limited held by E Limited. Since G Limited is a competitor of Y Limited, the management of G Limited considers the synergy obtained through acquiring Y Limited is good to the long term development of the company and is very keen in exercising the option. So, G Limited has actively sought for fund from its major shareholders and banks. However, G Limited is unable to get their support and hence does not have sufficient fund for the exercise of option. Required: Discuss which company has power over Y Limited, with explanation on relevant requirements of financial reporting standard. (10 marks)