Albion plc operates in the power industry and owns $45\%$ of the voting shares in Linden Ltd$.$ Linden Ltd

has four other investors which own the remaining $55\%$ of its voting shares and are all technology

companies. The largest of these holdings is $18\%.$ Linden Ltd is a property developer and purchases

property for its renovation potential and subsequent disposal. Albion plc has no expertise in this area

and is not involved in the renovation or disposal of property.

The board of directors of Linden Ltd makes all the major decisions but Albion plc can nominate up to

four of the eight board members. Each of the remaining four board members are nominated by each

of the other investors. Any major decisions require all board members to vote and for there to be a

clear majority. Thus, Albion plc has effectively the power of veto on any major decision. There is no

shareholder agreement as to how Linden Ltd should be operated or who will make the operating

decisions for Linden Ltd$.$ The Albion plc directors believe that Albion plc has joint control over Linden

Ltd because it is the major shareholder and holds the power of veto over major decisions.

Required

The directors of Albion plc would like advice as to whether they should account for Linden Ltd under

IFRS $11$ Joint Arrangements.