Question
What is the correct method for the Board of a parent company to instruct a wholly owned subsidiary please via meetings and minutes? Example: The
What is the correct method for the Board of a parent company to instruct a wholly owned subsidiary please via meetings and minutes?
Example: The board of the parent company passes a board resolution to instruct the wholly owned subsidiary to take a particular action. This would be minuted.. Does a member's meeting of the subsidiary then need to be called (with a director from the parent's board acting for the single member of the subsidiary who is the parent company) who then instructs the board of the subsidiary to take a particular action (members meeting minuted) and then finally a board meeting of the subsidiary is held and the resolution of the action is then agreed and minuted? Can this process be short-circuited if the board of the subsidiary is identical to the parent and an instruction is just "sent down" and resolved in the subsidiary board, thus bypassing an intermediary member's meeting? Thanks
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