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10) Assume that 3 parties establish an arrangement: X has 45% of the voting rights, Y...

10) Assume that 3 parties establish an arrangement: X has 45% of the voting rights, Y has 30% and Z has 25%. The contractual arrangement specifies that at least 75% of the voting rights are required to make decisions about the relevant activities. In this case, joint control arrangement exists: A) between X and Y B) between X, Y and Z C) between Y and Z D) no joint control arrangement exists

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Answer #1

Correct Answer is D: no joint control arrangement exists

Explanation:

A joint control arrangement exist only when the parties to the arrangement have joint control over the relevant matters. Joint control means that relevant matters require the unanimous consent of all the parties to the joint control arrangement

Since in the given case only 75% of the voting rights are required to make decisions about relevant activities. So it will not be considered as joint control arrangement.

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