# Finance (No. 2) Act 2023, Section 233: Treatment of protected cell companies

Extent: E+W+S+N.I.

(1) For the purposes of this Part—
(a) a protected cell company is not to be regarded as an entity, and
(b) each part of a protected cell company is to be treated as an entity distinct from the others.
(2) Accordingly—
(a) the fact an entity is a part of a protected cell company is irrelevant to determining whether it is a member of a consolidated group, and
(b) the accounts of the protected cell company are not to be regarded as consolidated financial statements.
(3) In this Part—
“protected cell company” means a protected cell company incorporated under Part 4 of the Risk Transformation Regulations 2017 (S.I. 2017/1212);
a “part” of a protected cell company means its core or a cell of the company;
“core” and “cell” have the meaning they have in those regulations.

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Source: https://www.legislation.gov.uk/ukpga/2023/30/section/233 (the official version)
Page: https://openlegislation.uk/finance-no-2-act-2023/section-233
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.