Companies Act 1985

17 (1) The information otherwise required by paragraph 16 need not be given in respect of a subsidiary of a company if either—

(a) the company is exempt under this Act from the requirement to prepare group accounts, as being at the end of its financial year the wholly-owned subsidiary of another body corporate incorporated in Great Britain, or

(b) the company prepares group accounts and—

(i) the accounts of the subsidiary are included in the group accounts, or

(ii) the investment of the company in the shares of the subsidiary is included in, or in a note to, the company's accounts by way of the equity method of valuation.

(2) That information need not be given in respect of another body corporate in which the company holds shares if the company's investment in those shares is included in, or in a note to, the accounts by way of the equity method of valuation.

(3) That information need not be given in respect of any body corporate if—

(a) that body is not required by any provision of this Act to deliver a copy of its balance sheet for its relevant financial year mentioned in paragraph 16, and does not otherwise publish that balance sheet in Great Britain or elsewhere, and

(b) the shares held by the company in that body do not amount to at least one half in nominal value of the body's allotted share capital.

(4) Information otherwise required by paragraph 16 need not be given if it is not material.