# Companies Act 1985, Paragraph 19

Extent: E+W+S

(1) Where an undertaking included in the consolidation manages another undertaking jointly with one or more undertakings not included in the consolidation, that other undertaking (''the joint venture’’) may, if it is not—
(a) a body corporate, or
(b) a subsidiary undertaking of the parent company,
be dealt with in the group accounts by the method of proportional consolidation.
(2) The provisions of this Schedule relating to the preparation of consolidated accounts apply, with any necessary modifications, to proportional consolidation under this paragraph.

---
Source: https://www.legislation.gov.uk/ukpga/1985/6/schedule/4A/paragraph/19 (the official version)
Page: https://openlegislation.uk/companies-act-1985/schedule-4A/paragraph-19
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.