4. In section 479A (subsidiary companies: conditions for exemption from audit)(1)—
(a)in subsection (1)(b), after “an EEA State” insert “or part of the United Kingdom”;
(b)in subsection (2)(c)—
(i)after “in accordance with” insert—
“(zi)if the undertaking is established in any part of the United Kingdom—
(aa)if the undertaking is a company, the requirements of Part 15 of this Act,
(bb)if the undertaking is not a company, the legal requirements which apply to the drawing up of consolidated accounts for that undertaking,”;
(ii)in sub-paragraph (i), at the beginning, insert “if the undertaking is established in an EEA State,”.
Section 479A was inserted by regulation 7 of S.I. 2012/2301. Subsection (2)(c)(i) was substituted by regulation 10(2) of S.I. 2015/980.