Editing Subsidiary (section)

===Oceania===
In [[Oceania]], the accounting standards defined the circumstances in which one entity controls another.{{Citation needed|date=November 2009}} In doing so, they largely abandoned the legal control concepts in favour of a definition that provides that "control" is "the capacity of an entity to dominate decision-making, directly or indirectly, in relation to the financial and operating policies of another entity so as to enable that other entity to operate with it in pursuing the objectives of the controlling entity". This definition was adapted in the [[Australia]]n [[Corporations Act 2001]]: s 50AA.<ref>{{cite web |url=http://www.austlii.edu.au/au/legis/cth/consol_act/ca2001172/s50aa.html |title=CORPORATIONS ACT 2001 - SECT 50AA Control |publisher=Austlii.edu.au |access-date=2013-09-29 |archive-date=2013-06-21 |archive-url=https://web.archive.org/web/20130621050217/http://www.austlii.edu.au/au/legis/cth/consol_act/ca2001172/s50aa.html |url-status=live }}</ref> Furthermore, it can be a useful part of the company that allows every head of the company to apply new projects and latest rules.{{Citation needed|date=April 2024}}