Paragraph 19

England, Wales and Scotland

(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 F1this Schedule relating to the preparation of consolidated accounts apply, with any necessary modifications, to proportional consolidation under this paragraph.

Annotations

Textual amendments

F1: Words in Sch. 4A para. 19(2) substituted (1.3.1997) by S.I. 1997/220, reg. 7(10)(b)

Notes on Schedule 4A

Textual amendments

F1: Sch. 4A repealed (6.4.2008) by Companies Act 2006 (c. 46), ss. 1295, 1300, Sch. 16; S.I. 2007/3495, art. 8(a), Sch. 2 Pt. 1 (with arts. 7, 12)

Notes on Joint ventures

Textual amendments

F1: Sch. 4A inserted (subject to the transitional and saving provisions in S.I. 1990/355, arts. 6–9) by Companies Act 1989 (c. 40, SIF 27), ss. 5(2), 213(2), Sch. 2