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25.—(1) Paragraph (2) applies where a group (“A”) includes a significant group undertaking (“B”) and A—
(a)satisfies article 24(2) and would do so if it did not include B;
(b)is not subject to article 27; and
(c)complies with article 11 at least 3 months before the time required under article 12.
(2) Where this paragraph applies, A may in the application under article 11 request the administrator to register A and B as separate participants.
(3) Where such a request is made—
(a)the administrator must notify A and B as soon as possible whether or not it agrees to it; and
(b)if it does, B may make an application in accordance with article 11 if it does so by the time required under article 12.
(4) Where—
(a)the request is not agreed; or
(b)it is but B does not make an application or not in the time required,
the application by A under article 11 includes B as a member of A.
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