# Finance Act 2011, Paragraph 15B


“UK sub-group” means a group of entities—
(a) which is a group for the purposes of those provisions of international accounting standards which relate to the preparation of consolidated financial statements,
(b) which has as its parent or parent undertaking for the purposes of those provisions an entity which is—
(i) if the relevant group is a relevant non-banking group, a UK resident bank, or
(ii) in any other case, a UK resident entity,
(c) the members of which, for the purposes of those provisions, are all members of the relevant group,
(d) in respect of which consolidated financial statements for the chargeable period are prepared under international accounting standards, and
(e) the members of which are not members of any larger group of entities, in respect of which the conditions in paragraphs (a) to (c) are met, for which such financial statements are prepared.

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Source: https://www.legislation.gov.uk/ukpga/2011/11/schedule/19/paragraph/15B (the official version)
Page: https://openlegislation.uk/finance-act-2011/schedule-19/paragraph-15B
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.