Paragraph 10 F1

United Kingdom

The conditions for accounting for an acquisition as a merger are—

(a)

that the undertaking whose shares are acquired is ultimately controlled by the same party both before and after the acquisition,

(b)

that the control referred to in paragraph (a) is not transitory, and

(c)

that adoption of the merger method accords with generally accepted accounting principles or practice.

Annotations

F1: Sch. 6 para. 10 substituted (with effect in accordance with reg. 2(2)-(5) of the amending S.I.) by The Companies, Partnerships and Groups (Accounts and Reports) Regulations 2015 (S.I. 2015/980), regs. 2(1), 22(7) (with reg. 3)

C1: Sch. 6 Pt. 1 applied (with modifications) (E.W.S.) (with application in accordance with reg. 2(2) of the amending S.I.) by The Small Limited Liability Partnerships (Accounts) Regulations 2008 (S.I. 2008/1912), regs. 2(1), 6(2), Sch. 4 Pt. 1 (with reg. 2(3)) (as amended (with effect in accordance with reg. 2(2)-(5) of the amending S.I.) by The Limited Liability Partnerships, Partnerships and Groups (Accounts and Audit) Regulations 2016 (S.I. 2016/575), regs. 2(1), 43)