Section 614DE Parent undertakings and consolidated group accountsF1

(1)

This Part has effect in relation to a body corporate that—

(a)

is a parent undertaking, but

(b)

for accounting purposes is not required to prepare consolidated group accounts in accordance with generally accepted accounting practice,

as if it were so required.

(2)

For the purposes of subsection (1) it does not matter where the body corporate is incorporated.

(3)

In subsection (1) “parent undertaking” is to be read in accordance with section 1162 of the Companies Act 2006.

Annotations

F1: Pt. 11A Ch. 4 inserted (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 3 para. 5 (with Sch. 9 paras. 1-9, 22)

F1: Pt. 11A inserted (with effect in accordance with s. 381(1) of the amending Act) by Taxation (International and Other Provisions) Act 2010 (c. 8), s. 381(1), Sch. 3 para. 2 (with Sch. 9 paras. 1-9, 22)