Paragraph 7 Acquisition and merger accounting

(1)

The following provisions apply where an undertaking becomes a subsidiary undertaking of the parent company.

(2)

That event is referred to in those provisions as an “acquisition”, and references to the “undertaking acquired” are to be construed accordingly.

Notes on Part 1

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)