Jurisdiction(s):
United Kingdom

Key definition

Subsidiary definition

What does Subsidiary mean? In legal practice, a subsidiary is a company controlled by another company (its holding company), usually through voting power or the ability to appoint a majority of directors. The term is used in corporate and finance documents to delineate group companies, guarantees, covenants and reporting obligations. In the UK, Companies Act 2006, section 1159, defines subsidiary. A company is a subsidiary if another company: holds a majority of its voting rights; or, being a member, can appoint or remove a majority of its directors; or, being a member, controls a majority of its voting rights by agreement. Two of these tests...

CMA finds no SLC; unconditionally clears Cardtronics/DirectCash merger in UK ATM markets (Phase 2, 22 September 2017)

Published by a LexisNexis Competition expert

Practice notes

CASE HUB ARCHIVED –this archived case hub reflects the position at the date of the decision of 22 September 2017; it is no longer maintained. See further, timeline and commentary.

Case facts

UK merger review of the completed purchase by Cardtronics Holdings Limited of DirectCash Payments Inc, involving horizontal overlaps in local markets for the placement of automatic teller machines (ATMs).

Latest developments

On 22 September 2017, the CMA approved the deal without remedies, confirming its provisional conclusions.

Parties

Cardtronics Holdings Limited (Cardtronics) is a Subsidiary of Cardtronics plc, a US-based company. Cardtronics plc is the world’s largest ATM owner and operator, servicing approximately 225,000 ATMs, with operations in Australia, Canada, Germany, Ireland, Mexico, New Zealand, Poland, Puerto Rico, Spain, the UK and the USA.
DirectCash Payments Inc (DCP) is a Canadian-based business operating roughly 25,000 ATMs across Australia, Canada, the UK, New Zealand and Mexico.

Market(s)

Deployment of ATMs to site owners—such as convenience stores and pubs—covering both free-to-use and pay-to-use machines, and the provision of ATM services to ATM users...

To view the latest version of this document and thousands of others like it, sign-in with LexisNexis or register for a free trial.

Web page updated on 21/05/2026

Popular documents

Using the Judicial College Guidelines to assess general damages in personal injury claims

When evaluating a general damages claim, the practitioner ought initially to refer to the Judicial College Guidelines (JCG)...

Tomlin orders in England and Wales: CPR guidance on drafting, confidentiality, approval, variation, enforcement, limitation, CCA issues, court-specific requirements, sample wording and precedents

This Practice Note This Practice Note reviews mechanisms used in settling litigation. A Tomlin order consists of a consent order paired with a schedule. It operates to stay proceedings on terms that have been agreed. The provisions contained in the schedule may remain confidential. This Practice Note describes the scope of confidentiality attaching to the schedule and sets out how it differs from a standard consent order. Sample wording for a Tomlin order is included, alongside links to precedents, as well as guidance on court approval. It also addresses varying, setting aside and enforcing a Tomlin order, including the considerations the court will take into account when handling applications for each. Further guidance is provided on interpreting and applying the relevant provisions of the CPR; however, some courts and divisions impose very specific requirements for both drafting and approval, and for approaching the schedule and confidentiality issues. Accordingly, you must consider the particular rules and court guide provisions in the forum where your claim is proceeding when drawing up the Tomlin order...

Precedent: Deed of Surrender of Lease with Optional Premium, Settlement and Release, Landlord, Mortgagee and Guarantor Consents, Reimbursement and HM Land Registry Provisions (England and Wales)

Date [ date ] Parties [ name of Landlord ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Landlord) [ name of Tenant ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Tenant) [ [ name of Guarantor ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Guarantor) ] [ [ name of Mortgagee ] [ of OR incorporated in England and Wales (company registration number [ number ]) with its registered office at ] [ address ] (Mortgagee) ] Definitions Within this Deed, the terms below shall be interpreted as follows: [ Annual Rent • the annual sum reserved under the Lease; ] [ Insurance Rent • the Tenant’s share of the Landlord’s costs of insuring the Property (as set out in the Lease); ] Lease • the lease of the Property dated [ date ], entered into between (1) [ the Landlord OR [ name ...

Precedent Statutory Declaration: Standard Wording under the Statutory Declarations Act 1835

I, [ name ], of [ address ], solemnly and sincerely state that: [ Matters to be verified, set out in numbered paragraphs ] I make this solemn statement in good conscience, believing it to be true, and pursuant to the provisions of the Statutory Declarations Act 1835. DECLARED at [ details ] this [ day ] day of [ month and year ] Before me ................................................................................ [ signature of the person before whom the declaration is made ] A [ commissioner for oaths OR [ solicitor OR [ insert other qualification ] ] authorised to administer oaths ]...