Section 45Part 8 — Foreign Limited Liability Companies
Definitions in this Part
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In this Part — “ consolidated entity ” means the new entity that results from the consolidation of two or more constitu ent entities; “ consolidation ” means the combination of two or more constituent entities into a consolidated entity and the vesting of the undertaking, property and liabilities of such constituent entities in the consolidated entity; “ constituent limited liability company ” or “ constituent entity ” means a limited liability company or other entity that is participating in a merger or consolidation with one or more other entities; “ entity ” means
an exempted company;
a limited liability company; or
a foreign entity provided that such foreign entity has separate legal personality; “ merger ” means the merging of two or more constituent entities and the vesting of their undertaking, property and liabilities in one of such constituent entities as the sur viving entity; “ parent entity ” means, with respect to another entity, an entity that holds issued equity interests that together represent at least ninety per cent of the issued voting equity interests of that other entity; “ subsidiary entity ” means, with respect to another entity, an entity of which that other entity is the parent entity; and “ surviving entity ” means the sole remaining constituent entity into which one or more other constituent entities are merged.