It is possible for one entity to control another entity under the AASB 3 definition without the controlling entity having any equity-ownership interest in the other entity:

Question

Quizplus · Accepted Answer

According to AASB 3, an entity can be controlled if it has the power to govern the financial and operating policies of another entity, even without any equity-ownership interest. Control is determined based on the concept of power, rather than ownership.

It Is Possible for One Entity to Control Another Entity