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Paragraph 1

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

In this Schedule, except where the context otherwise requires—

  • “annual accounts” has the same meaning as in Part VII of the Companies Act 1985;

  • “control” means the ability, in practice, to determine the actions of the issuer; and “joint control” means control exercised by two or more persons who have an agreement or understanding (whether formal or informal) which may lead to their adopting a common policy in respect of the issuer;

  • “debentures” means securities falling within paragraph 2 of Schedule 1 to the Act;

  • “financial year” has the same meaning as in Part VII of the Companies Act 1985;

  • “group accounts” has the same meaning as in Part VII of the Companies Act 1985;

  • “the last three years”, in relation to an undertaking whose accounts are required to be dealt with in a prospectus, means three completed financial years which immediately precede the date on which the offer is first made and which cover a continuous period of at least 35 months, disregarding a financial year which ends less than three months before the date on which the offer is first made and for which accounts have not been prepared by that date;

  • “parent undertaking” and “subsidiary undertaking” have the same meaning as in Part VII of the Companies Act 1985;

  • “State of affairs” means the state of affairs of an undertaking, in relation to its balance sheet, at the end of a financial year;

  • “subsidiary” and “holding company” have the same meaning as in sections 736 and 736A of the Companies Act 1985; and

  • “undertaking” has the same meaning as in Part VII of the Companies Act 1985.