SCHEDULES

F1F1SCHEDULE 3

Annotations:
Amendments (Textual)

Part II Companies Required to Prepare Group Accounts

Financial information about subsidiary undertakings not included in the consolidation

17

1

There shall be shown with respect to each subsidiary undertaking not included in the consolidation—

a

the aggregate amount of its capital and reserves as at the end of its relevant financial year, and

b

its profit or loss for that year.

2

That information need not be given if the group’s investment in the undertaking is included in the accounts by way of the equity method of valuation or if—

a

the undertaking is not required by any provision of this Act to deliver a copy of its balance sheet for its relevant financial year and does not otherwise publish that balance sheet in Great Britain or elsewhere, and

b

the holding of the group is less than 50 per cent. of the nominal value of the shares in the undertaking.

3

Information otherwise required by this paragraph need not be given if it is not material.

4

For the purposes of this paragraph the “relevant financial year” of a subsidiary undertaking is—

a

if its financial year ends with that of the company, that year, and

b

if not, its financial year ending last before the end of the company’s financial year.