(1) Stock corporations in which the Federation holds a majority interest are stock corporations having their seat in Germany,
1. the majority of the shares in which is held by the Federation, or
2. which are large share capital companies (section 267 (3) of the Commercial Code) and in which the majority of shares is held by companies, in which in turn the majority of shares is held by the Federation, or
3. which as a rule have more than 500 employees and in which the majority of shares is held by companies, the majority of shares in which in turn
a) is held by the Federation, or
b) is held by companies in which the ownership of the shares continues in this manner up to companies in which the majority of shares is held by the Federation.
Shares held via a special fund of the Federation are not to be taken into account. Bodies under public law that are active in an entrepreneurial capacity are equivalent to the Federation.
(2) The following apply to stock corporations in which the Federation holds a majority interest:
1. Section 76 (3a), independently of a listing on a stock exchange and of whether the Employee Co-Determination Act, the Act on Co-determination in the Coal, Iron and Steel Industry or the Supplementary Co-determination Act apply, if the management board consists of more than two members, as well as
2. section 96 (2) independently of a listing on a stock exchange and of whether the Employee Co-Determination Act, the Act on Co-determination in the Coal, Iron and Steel Industry or the Supplementary Co-determination Act apply.
(3) The Länder may, by enacting a corresponding Land law, have the requirements of subsection (2) extend to stock corporations in which a Land holds a majority interest in accordance with subsection (1). In this case, the statutory provisions and election regulations pertaining to co-determination in enterprises in which the Federation holds a majority interest apply accordingly to companies in which a Land holds a majority interest and which are subject to co-determination rights.