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participation

as defined in Directive 2006/48/EC of the European Parliament and of the Council of 14 June…, Article 4, point (10)

participation within the meaning of the first sentence of Article 17 of Fourth Council Directive 78/660/EEC of 25 July 1978 on the annual accounts of certain types of companies, or the ownership, direct or indirect, of 20 % or more of the voting rights or capital of an undertaking;

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