Glossary Term: Subsidiary
Term subsidiary has different meanings depending on the context in which it has been used. It has a definition as part of the Companies Act 2006 as well as describing types of documents associated to the Balancing and Settlement Code, for example the Codes of Practice. It also has a definition relating to a BM Unit.
Subsidiary of a company
The Companies Act 2006 says that a company is a subsidiary of another company (its holding company) if that other company, or that other company’s holding company, has control in the form of majority voting rights or the right as a member to appoint/remove a majority of board directors.
A company is a wholly-owned subsidiary of another company if it has no members other than that other company and any other wholly-owned subsidiaries of that other company.
Code Subsidiary Document
A subsidiary document that legally forms part of the BSC, as defined in BSC Section H. Includes Balancing and Settlement Code Procedures (BSCPs), Metering Codes of Practice (CoPs), the Party Service Line (PSL) and Data Catalogues. Code Subsidiary Documents are binding and any breach of their provisions is a breach of the BSC.
Subsidiary Party
In relation to a BM Unit, a Contract Trading Party (not being the Lead Party) to whose Energy Account a quantity of Active Energy or (as the case may be) percentage of the BM Unit Metered Volume is to be allocated
BSC defined definitions
Subsidiary
Has the meaning given to that term in section 1159 of the Companies Act 2006. A “Dormant Subsidiary” means a BSCCo Subsidiary that is dormant within the meaning of section 1169 of the Companies Act 2006.
Code Subsidiary Document
Means any document referred to in Section H1.2.4 as modified from time to time in accordance with Section F3 and/or I.
Subsidiary Party
In relation to a BM Unit.
Subsidiary Energy Account
Means, in relation to a BM Unit, the corresponding Energy Account of a Subsidiary Party