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subsidiary undertaking

as defined in Directive 98/78/EC of the European Parliament and of the Council of 27 October…, Article 1, point (e)

a subsidiary undertaking within the meaning of Article 1 of Directive 83/349/EEC and any undertaking over which, in the opinion of the competent authorities, a parent undertaking effectively exercises a dominant influence. All subsidiaries of subsidiary undertakings shall also be considered subsidiaries of the parent undertaking which is at the head of those undertakings

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