Tommy Ltd and Calvin Ltd are engaged in the same kind of business. Each of them has 50% of the voting rights in Park Ltd. The shareholders agreement between Tommy Ltd and Calvin Ltd states the followings:

1) The purpose of Park Ltd is to purchase, manage and sell commercial buildings for generating capital gains.

2) All decisions such as the selection of commercial buildings, the style of their renovations and financing activities, require the mutual agreement of both Tommy Ltd and Calvin Ltd.

3) Tommy Ltd is responsible for the daily management activities of Park Ltd, such as finding tenants, negotiating rental agreements and rent collection. Calvin Ltd is NOT responsible for any management activities of Park Ltd.

Required:

In accordance with the IFRS 10, analyze the above situation in order to identify which party/parties may control Park Ltd. (170 to 200 words)