The term “Holding Company” means a company with shareholdings in one or more other companies, the commercial purpose of which is to carry out a business strategy or strategies through its subsidiaries, associated companies or participations in order to contribute to their long-term value, and which is either a company:
(a) Operating on its own account and whose shares are admitted
to trading on a regulated market in the EU; or
(b) Not established for the main purpose of generating returns for
its investors by means of divestment of its subsidiaries or
assorted companies as evidence in its annual report or other
official documents.
