# Taxation (International and Other Provisions) Act 2010, Section 473: Meaning of “a worldwide group”, “ultimate parent” etc


(1) In this Part “a worldwide group” means—
(a) any entity which—
(i) is a relevant entity (see section 474), and
(ii) meets the first or second non-consolidation condition (see subsections (2) and (3)), and
(b) each consolidated subsidiary (if any) of the entity mentioned in paragraph (a).
(2) The first non-consolidation condition is that the entity—
(a) is a member of an IAS group, and
(b) is not a consolidated subsidiary of an entity that—
(i) is a relevant entity, and
(ii) itself meets the first non-consolidation condition.
(3) The second non-consolidation condition is that the entity is not a member of an IAS group.
(4) In this Part—
(a) references to “a member” of a worldwide group are to an entity mentioned in subsection (1)(a) or (b);
(b) references to “the ultimate parent” of a worldwide group are to the entity mentioned in subsection (1)(a);
(c) references to “a single-company worldwide group” are to a worldwide group whose only member is its ultimate parent;
(d) references to “a multi-company worldwide group” are to a worldwide group with two or more members.
(5) In this section “IAS group” means a group within the meaning given by international accounting standards.

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Source: https://www.legislation.gov.uk/ukpga/2010/8/section/473 (the official version)
Page: https://openlegislation.uk/taxation-international-and-other-provisions-act-2010/section-473
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.