On 30 June 2020, Zeta Ltd owns shares in five investee companies, Alpha Ltd, Beta Ltd, Gamma Ltd, Delta Ltd, and Eta Ltd.

Zeta Ltd owns 55% of the issued share capital of Alpha Ltd. Zeta Ltd's management indicates that Zeta Ltd has no intention of directing or interfering with the operations of Alpha Ltd.

Zeta Ltd owns 20% of the issued share capital of Beta Ltd. The remaining shares of Beta Ltd are held by an institutional investor, Mu Ltd.

Zeta Ltd owns 40% of the issued share capital of Gamma Ltd. Gamma Ltd's remaining 60% share capital is held by an external company, Sigma Ltd. Zeta Ltd owns call options which would allow it to acquire 20% of Gamma Ltd's shares from Sigma Ltd at a pre-determined price of $20 per share. Zeta Ltd's management has indicated that it has no intention of exercising these call options. On 30 June 2020, Gamma Ltd's shares are trading at $19 per share.

Zeta Ltd owns 30% of the issued share capital of Delta Ltd. The remainingshares of Delta Ltd are held in small parcels by a large number of individual, passive investors.A majority of Delta Ltd's shareholders do not attend annual general meetings (AGMs) or vote on the election of directors. At the most recent annual general meeting of Delta Ltd, only less than 50% of the voting rights were exercised by shareholders who attended the meeting.

Zeta Ltd owns 50% of the issued share capital of Eta Ltd. Eta Ltd's operations are overseen by its board of directors, which consists of six directors. Under Eta Ltd's constitution, Zeta Ltd has the right to appoint four directors of Eta Ltd. Another external company, Kappa Ltd, has the right to appoint the other two directors of Eta Ltd. According to Eta Ltd's constitution, all financing and operating policies require unanimous approval from all six directors.

Required:

On 30 June 2020, for financial reporting purposes, what is the relationship that exists between Zeta Ltd and each of its investees,Alpha Ltd, Beta Ltd, Gamma Ltd, Delta Ltd, and Eta Ltd?

Your answer must be supported by references tospecific paragraphsinallrelevant (Australia)accounting standards. Your answer should address all relationships that are relevant (e.g., control, significant influence, and any other that are applicable). Your answer should addressallof the relevant criteria for determining each relationship.

Formatting requirements: Your answer should be divided into multiple paragraphs. You should use section headings to clearly identify the structure of your essay.