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Maggie Ltd owns a 75% shareholding in Buppie Ltd and the majority of the board of directors in Buppie Ltd are also directors in
Maggie Ltd owns a 75% shareholding in Buppie Ltd and the majority of the board of directors in Buppie Ltd are also directors in Maggie Ltd. Buppie Ltd has a 100% interest in Luna-kitty Ltd. Cleocat Ltd has a 15% interest in Buppie Ltd. (a) Does Maggie Ltd control Luna-Kitty Ltd? Explain. (1 mark) (b) Are there any entities that would be considered to have direct control over other entities? Explain. (1 marks) (c) Does Maggie Ltd have an interest in Cleocat Ltd? What reporting disclosure requirements if any are required and what type of interest would this be considered? Explain. (2 marks)
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