# Friendly Societies Act 1992, Paragraph 11


(1) There must be shown with respect to each subsidiary undertaking not included in the consolidation—
(a) the aggregate amount of its capital and reserves as at the end of its relevant financial year, and
(b) its profit or loss for that year.
(2) The information referred to in sub-paragraph (1) need not be given if the group’s investment in the subsidiary undertaking is included in the accounts by way of the equity method of valuation or if—
(a) the subsidiary undertaking is not required by any provision of the Companies Act 2006 to deliver a copy of its balance sheet for its relevant financial year and does not otherwise publish that balance sheet in the United Kingdom or elsewhere, and
(b) the holding of the group is less than 50 per cent of the nominal value of the shares in the subsidiary undertaking.
(3) Information otherwise required by this paragraph need not be given if it is not required in order for the society’s group accounts to give a true and fair view.
(4) For the purposes of this paragraph the “relevant financial year” of a subsidiary undertaking is—
(a) if its financial year ends with that of the society, that year; and
(b) if not, its financial year ending last before the end of the society’s financial year.

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Source: https://www.legislation.gov.uk/ukpga/1992/40/schedule/13E/paragraph/11 (the official version)
Page: https://openlegislation.uk/friendly-societies-act-1992/schedule-13E/paragraph-11
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.