# Companies Act 1948, Paragraph 17


Subject to the following paragraphs of this Part of this Schedule, the consolidated balance sheet and profit and loss account shall combine the information contained in the separate balance sheets and profit and loss accounts of the holding company and of the subsidiaries dealt with by the consolidated accounts, but with such adjustments (if any) as the directors of the holding company think necessary;

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Source: https://www.legislation.gov.uk/ukpga/Geo6/11-12/38/schedule/EIGHTH/paragraph/17 (the official version)
Page: https://openlegislation.uk/companies-act-1948/schedule-EIGHTH/paragraph-17
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.