Meaning of “group”U.K.
79(1)Subject to sub-paragraphs (2) and (3), in this Schedule “group” has the meaning for the time being given by international accounting standards.U.K.
(2)Where a group would (apart from this sub-paragraph) contain more than one ultimate parent, each of those ultimate parents, together with its subsidiaries, is to be treated as a separate group.
(3)An entity that is a parent of the ultimate parent of a group is to be treated as not being a member of the group.
(4)Sub-paragraphs (2) and (3) do not apply for the purposes of paragraph 80.