# The Reports on Payments to Governments Regulations 2014, Regulation 11: Exemption from consolidated report


(1) Payments made by a subsidiary undertaking may be excluded from the consolidated report where—
(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;
(b) the information necessary for the preparation of the consolidated report cannot be obtained without disproportionate expense or undue delay; or
(c) the shares of that undertaking are held exclusively with a view to subsequent resale.
(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.

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Source: https://www.legislation.gov.uk/ukdsi/2014/9780111122235/regulation/11 (the official version)
Page: https://openlegislation.uk/draft-reports-on-payments-to-governments-regulations-2014/regulation-11
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.