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SCHEDULES

[F1SCHEDULE 5AE+WGroup Accounts

Textual Amendments

F1Sch. 5A inserted (27.2.2007 for the insertion of Sch. 5A paras. 3(3)(b)(4)(5), 4(2)(3), 6(2), 8, 10(2)(3), 15 for specified purposes, 1.4.2008 in so far as not already in force) by Charities Act 2006 (c. 50), s. 79(2), Sch. 6 (with Sch. 10 para. 17); S.I. 2007/309, art. 2, Sch.; S.I. 2008/945, art. 2, Sch. 1

InterpretationE+W

1(1)This paragraph applies for the purposes of this Schedule.E+W

[F2(2)A charity is a “parent charity” if it is (or is to be treated as) a parent undertaking in relation to one or more other undertakings in accordance with the provisions of [F3section 1162 of, and Schedule 7 to, the Companies Act 2006] .]

(3)Each undertaking in relation to which a parent charity is (or is to be treated as) a parent undertaking in accordance with those provisions is a “subsidiary undertaking” in relation to the parent charity.

(4)But sub-paragraph (3) does not have the result that any of the following is a “subsidiary undertaking”—

(a)any special trusts of a charity,

(b)any institution which, by virtue of a direction under section 96(5) of this Act, is to be treated as forming part of a charity for the purposes of this Part of this Act, or

(c)any charity to which a direction under section 96(6) of this Act applies for those purposes.

(5)“The group”, in relation to a parent charity, means that charity and its subsidiary undertaking or undertakings, and any reference to the members of the group is to be construed accordingly.

(6)For the purposes of—

(a)this paragraph, and

(b)the operation of the provisions mentioned in sub-paragraph (2) above for the purposes of this paragraph,

“undertaking” has the meaning given by sub-paragraph (7) below.

(7)For those purposes “undertaking” means—

(a)an undertaking as defined by [F4section 1161(1) of the Companies Act 2006] , or

(b)a charity which is not an undertaking as so defined.]

Textual Amendments

F2Sch. 5A para. 1(2) substituted (with effect in accordance with art. 1(3) of the amending S.I.) by The Charities Act 2006 (Charitable Companies Audit and Group Accounts Provisions) Order 2008 (S.I. 2008/527), arts. 1(1), 8(2)