{
  "url": "https://openlegislation.uk/draft-reports-on-payments-to-governments-regulations-2014/regulation-11",
  "json_url": "https://openlegislation.uk/draft-reports-on-payments-to-governments-regulations-2014/regulation-11.json",
  "legislation": "ukdsi/2014/9780111122235",
  "legislation_title": "The Reports on Payments to Governments Regulations 2014",
  "legislation_url": "https://openlegislation.uk/draft-reports-on-payments-to-governments-regulations-2014",
  "path": "regulation/11",
  "kind": "regulation",
  "number": "11",
  "heading": "Exemption from consolidated report",
  "text": "(1) Payments made by a subsidiary undertaking may be excluded from the consolidated report where—\n(a) severe long-term restrictions substantially hinder the exercise of the rights of the parent undertaking over the assets or management of that subsidiary undertaking;\n(b) the information necessary for the preparation of the consolidated report cannot be obtained without disproportionate expense or undue delay; or\n(c) the shares of that undertaking are held exclusively with a view to subsequent resale.\n(2) The parent undertaking may only exclude payments by a subsidiary undertaking under paragraph (1)(a) to (c) where the subsidiary undertaking is excluded from the consolidated group accounts on the same basis.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukdsi/2014/9780111122235/regulation/11",
    "retrieved_at": "2026-10-30T15:11:55.696141+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}