For the purposes of 1[this Act] Government company, means any company in which not less than fifty one per cent of the 2[paid-up share capital] is held by the Central Government, or by any State Government or Governments, or partly by the Central Government and partly by one or more State Governments, 3[and includes a company which is a subsidiary of a Government company as thus defined].
1 Substituted by Act No. 65 of 1960, for the words and figures "sections 618, 619 and 620"
2 Substituted by Act No. 65 of 1960, for the words "share capital".