A subsidiary company is a joint stock company or a limited liability company, which is subject to the control of another company that owns at least fifty one percent (51%) of its shares. Each of the holding company and its subsidiary company shall enjoy an independent legal personality. The holding company shall not be liable for the debts of the subsidiary company.
This site currently publishes a verified part of the instrument; the remaining provisions continue to exist and apply independently of their absence from this corpus. Interpretation and application must be checked against the official Arabic text and the current version.