Rose plc has two shareholders:

$$ Investor A plc owns $60\%$ of Rose plc$$s ordinary shares and voting rights;

$$ Investor B plc owns the remaining $40\%.$

Rose plc$$s articles of association stipulate that at least $80\%$ of the voting rights are required to make decisions about Rose$$s relevant activities.

Rose plc does not depend on its shareholders for settling its liabilities and no shareholder has contractual rights or obligations to the individual assets nor liabilities of Rose plc$.$

How should the investment in Rose plc be consolidated in Investor A plc$$s group financial statements according to IFRS?

$($a$)$ As a subsidiary

$($b$)$ As an associate

$($c$)$ As a joint venture

$($d$)$ As a joint operation

$($e$)$ As a liability