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12.—(1) For the purposes of Schedule 6 the financial years of subsidiary undertakings are to be determined in accordance with this regulation.
(2) The financial year of a charitable subsidiary undertaking is to be determined in accordance with section 180(1)(1).
(3) The financial year of a non-charitable subsidiary undertaking is a period in respect of which a profit and loss account of the undertaking is required to be made up (by its constitution or by the law under which it is established), whether that period is a year or not.
The definition of “financial year” in section 180(1) was amended by paragraph 26(3) of Schedule 1 to the Charities Act (Northern Ireland) 2013 (c. 3 (N.I.))
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