105AWholly-owned subsidiary

### 105A Wholly-owned subsidiary > [*\[Section 105A Inserted by No. 99 of 2000, s. 64, Applied:01 Jul 2001\]*](/view/html/inforce/2001-07-01/act-2000-099#GS64@EN) > > > (1)  The Board may endorse on a permit the name of one or more wholly-owned subsidiaries of the permit holder. > > > (2)  While the name of a subsidiary is endorsed on a permit, the subsidiary is taken to be covered by the permit. > > > (3)  The Board may at any time amend an endorsement on a permit by adding, altering or deleting the name of a subsidiary. > > > (4)  An amendment to a permit – > > > > > > (a) is made by the Board giving notice of it to the permit holder; and > > > > > > > (b) takes effect on the day the notice is given or on a later day specified in the notice. > > > (5)  A company which holds a permit and any subsidiary covered by the permit are jointly and severally liable for any contribution required to be made to any fund by the subsidiary under this Act. > > > (6)  A permit – > > > > > > (a) may be subject to conditions under this Act relating to the obligations of a subsidiary covered by the permit; and > > > > > > > (b) may be cancelled or suspended under this Act because of the acts or omissions of the subsidiary. > > > (7)  In this section, > > > > > ***wholly-owned subsidiary*** has the same meaning as in the *Corporations Law*.