# The Large and Medium-sized Companies and Groups (Accounts and Reports) Regulations 2008, Paragraph 14: References to subsidiary undertakings


(1) Any reference in this Schedule to a subsidiary undertaking of the company, in relation to a person who is or was, while a director of the company, a director also, by virtue of the company’s nomination (direct or indirect) of any other undertaking, includes that undertaking, whether or not it is or was in fact a subsidiary undertaking of the company.
(2) Any reference to a subsidiary undertaking of the company—
(a) for the purposes of paragraph 1 (remuneration etc.) is to an undertaking which is a subsidiary undertaking at the time the services were rendered, and
(b) for the purposes of paragraph 4 (compensation for loss of office) is to a subsidiary undertaking immediately before the loss of office as director.

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Source: https://www.legislation.gov.uk/ukdsi/2008/9780110806303/schedule/5/paragraph/14 (the official version)
Page: https://openlegislation.uk/draft-large-and-medium-sized-companies-and-groups-accounts-and-reports-regulations-2008/schedule-5/paragraph-14
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.