The Following Diagram Depicts the Ownership Structure of Two CCPCs

The following diagram depicts the ownership structure of two CCPCs. Bob Light is Lisa Light's son.
Sarah Paint and Alan Canvas are not related to Bob and Lisa in any manner, whatsoever, or to one another. All of the shares held are common.
Required:
A)Determine if the two companies are associated, referring to the applicable section of the Income Tax Act.
B)Briefly explain what the most significant tax implication is when two or more corporations are associated.