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A private company which is a subsidiary of a public company is, for the purposes of the Act:
AExempt from the Act
BTreated as a Government company
CTreated as a private company
DDeemed to be a public company even if its articles retain private-company restrictions
Answer & Solution
Correct answer: D. Deemed to be a public company even if its articles retain private-company restrictions
Under Section 2(71), a subsidiary of a public company is deemed a public company for the Act, even where it continues to be private in its articles.
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