Control Is Automatically Presumed to Exist Where the Parent Either

question 7

Multiple Choice

Control is automatically presumed to exist where the parent either directly or indirectly through subsidiaries owns:

• A) more than 25% but less than 50% of the voting power of an entity;
• B) more than 10% but less than 25% of the voting power of an entity;
• C) not more than 49% of the voting power of an entity;
• D) more than 50% of the voting power of an entity.

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Definitions:

Surrogate Court

A specialized court that deals with matters of probate and administration of estates.

Specific Performance

A legal remedy where a court orders a party to fulfill their obligations under a contract, rather than simply paying damages.

Supreme Court of Canada

The highest court in Canada, which serves as the final appellate court and decides on issues of national importance.

Land Transaction

An agreement or activity involving the legal transfer of ownership or rights of use in land from one party to another.