Paragraph 1 Undertakings

In this Order, subject to paragraph 4—

(a)

in relation to an undertaking, “group” means those undertakings which are group undertakings in respect of each other;

(b)

“group undertaking” has the meaning given by section 1161(5) of the Companies Act 2006^f1 but where “undertaking” has the meaning given in this Order;

(c)

“highest parent undertaking” is the undertaking in the group which is not a subsidiary of any other undertaking in the group;

(d)

“member” in relation to group undertakings means an undertaking which is part of a group;

(e)

“parent undertaking”, “subsidiary undertaking” and related expressions have the same meanings as in Part 38 of the Companies Act 2006 but where “undertaking” has the meaning given in this Order;

(f)

“undertaking” means—

(i)

an undertaking as defined in section 1161(1) of the Companies Act 2006; and

(ii)

as if that definition included an unincorporated association which carries on a charitable activity,

but an undertaking does not include a public body.

Annotations

Footnotes

f1: 2006 c. 46.