(6)“associate company”, in relation to another company, means a company in which that other company has a significant influence, but which is not a subsidiary company of the company having such influence and includes a joint venture company.[[Explanation.—For the purposes of this clause, “significant influence” means control of at least twenty per cent. of total share capital, or of business decisions under an agreement;The Explanation subs. by Act 1 of 2018, s. 2 (w.e.f. 7-5-2018)]]
