Question: Use the following 2 cases to explain how effective control overrides legal control as an illustration of substance over form concept. Apple Ltd owns 40%

Use the following 2 cases to explain how effective control overrides legal control as an illustration of substance over form concept.

Apple Ltd owns 40% of Pear Ltds issued ordinary shares and is the major shareholder of Pear Ltd. In the past years, less than 70% of the shareholders attended and cast votes at the Annual General Meeting (AGM) of Pear Ltd.

Jalan Ltd owns 45% of the issued share capital of Kaki Ltd. It is the largest block of shares held by any single party. The remaining shares outstanding are widely held, with no other party holding more than 1% of the outstanding shares.

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