Meaning of “reporting body”U.K.
5(1)For the purposes of this Schedule a body corporate (“body A”) is a reporting body at any time if, at that time—U.K.
(a)it is a UK corporate parent, and
(b)condition A, B, C or D is met.
(2)Condition A is that body A is not controlled by a body corporate resident outside the United Kingdom.
(3)Condition B is that—
(a)body A is controlled by a body corporate resident outside the United Kingdom (“the foreign parent”), and
(b)no other relevant UK body corporate is controlled by the foreign parent.
(4)Condition C is that —
(a)body A is controlled by a body corporate resident outside the United Kingdom (“the foreign parent”),
(b)one or more other UK corporate parents are controlled by the foreign parent, and
(c)body A is not a party to an arrangement under paragraph 6.
(5)Condition D is that—
(a)body A is controlled by a body corporate resident outside the United Kingdom (“the foreign parent”),
(b)one or more other UK corporate parents are controlled by the foreign parent, and
(c)body A is a party to an arrangement under paragraph 6 and is the nominated reporting body under that arrangement.