Associate company
1) In ‘O’ licensing, a company where the parent/ holding company has an equity holding no greater than 50 per cent and therefore is not a subsidiary company for these purposes. Vehicles specified on the restricted ‘O’ licence of a parent/holding company cannot carry goods for the business of an associate company, and those on the ‘O’ licence of an associate company may not legally carry goods for the business of the parent/holding company or any of its subsidiaries.