Paragraph 19 Determining the worldwide group: “non-consolidated subsidiary” and “consolidated subsidiary”

Section 475 (meaning of “non-consolidated subsidiary” and “consolidated subsidiary”) is amended as follows.

In subsection (1)(b), omit “or on the basis that X were an asset held for sale or held for distribution to owners”.

For subsection (3) substitute—

“(3)

In this section “subsidiary” has the meaning given by international accounting standards.”