- Draft legislation
This is a draft item of legislation. This draft has since been made as a UK Statutory Instrument: The Companies Act 1985 (International Accounting Standards and Other Accounting Amendments) Regulations 2004 No. 2947
12.—(1) In section 258(4) of the 1985 Act (parent and subsidiary undertakings)(1)–
(a)omit “ it has a participating interest in the undertaking and”, and
(b)for paragraph (a) substitute–
“(a)it has the power to exercise, or actually exercises, dominant influence or control over it, or.”
(2) The modification of section 258(4) in paragraph (1) also applies for the purposes of—
(a)the Building Societies Act 1986(2), and
(b)the Financial Services and Markets Act 2000(3).
Section 258 was substituted by section 21(1) of the Companies Act 1989.
1986 c. 53 (as amended by the Companies Act 1989 and the Building Societies Act 1997).
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