F1mod. SR 1994/133
F2Pt. VIII substituted by S.I. 1990/593 (N.I. 5), Pt. II
F3Pt. VIII modified by S.R. 2004/307 (as amended (1.10.2006) by Limited Liability Partnerships (Amendment) Regulations (Northern Ireland) 2006 (S.R. 2006/377), reg. 2, Sch. 1)
F4Pt. VIII modified by {S.R. 2004/496}
F6SR 1992/258
263A .F7—(1) The parent company of a banking group shall prepare group accounts in accordance with the provisions of this Part as modified by Part II of Schedule 9.
(2) The parent company of an insurance group[F8 shall] prepare group accounts in accordance with the provisions of this Part as modified by Part II of Schedule 9A.
(3) Accounts so prepared shall contain a statement that they are prepared in accordance with the special provisions of this Part relating to banking groups or to insurance groups, as the case may be.
[F8(4) References in this Part to a banking group are to a group where the parent company is a banking company or where—
(a)the parent company's principal subsidiary undertakings are wholly or mainly credit institutions, and
(b)the parent company does not itself carry on any material business apart from the acquisition, management and disposal of interests in subsidiary undertakings.
(5) References in this Part to an insurance group are to a group where the parent company is an insurance company or where—
(a)the parent company's principal subsidiary undertakings are wholly or mainly insurance companies, and
(b)the parent company does not itself carry on any material business apart from the acquisition, management and disposal of interests in subsidiary undertakings.
(5A) For the purposes of paragraphs (4) and (5)—
(a)a parent company's principal subsidiary undertakings are the subsidiary undertakings of the company whose results or financial position would principally affect the figures shown in the group accounts, and
(b)the management of interests in subsidiary undertakings includes the provision of services to such undertakings.]
(6) In relation to the preparation of group accounts in accordance with the special provisions of this Part:
(a)the references to the provisions of Schedule 4A in[F9 Article 235A(4) and (5)] (relationship between specific requirements and duty to give true and fair view) shall be read as references to those provisions as modified by Part II of Schedule 9, in the case of the group accounts of a banking group, or Part II of Schedule 9A, in the case of the group accounts of an insurance group; and
(b)the reference to paragraphs 52 to 57 of Schedule 4 in Article 238(2) (relief from obligation to comply with those paragraphs where group accounts prepared) shall be read as a reference to[F10 paragraphs 75 to 77], 80 and 81 of Part I of Schedule 9, in the case of the group accounts of a banking group[F8 and as a reference to paragraphs 73, 74, 79 and 80 of Part I of Schedule 9A, in the case of the group accounts of an insurance group].
[F9(6A) References to Companies Order group accounts include accounts prepared in accordance with paragraphs (1) to (3).
(6B) Paragraphs (1) to (3) and (6) do not apply to parent companies of banking groups or insurance groups that prepare IAS group accounts.]
Para. (7) rep. by SR 1994/428
F11Order repealed (prosp.) by Companies Act 2006 (c. 46), ss. 1284(2), 1295, 1300(2), Sch. 16 and the repeal being partly in force, as to which see individual Articles (with savings (with adaptations) by Companies Act 2006 (Commencement No. 6, Saving and Commencement Nos. 3 and 5 (Amendment)) Order 2008 (S.I. 2008/674), arts. 2(3), {4}, Sch. 2) and subject to amendments (6.4.2008) by Companies Act 2006 (Consequential Amendments etc) Order 2008 (S.I. 2008/948), arts. 2(2), 3(1)(b)(2), Sch. 1 paras. 135, 147, 148 {Sch. 2 Note 1} (with arts. 6, 11, 12) and subject to amendments (6.4.2008) by S.R. 2008/133, {regs. 2, 3}