23(1)The information required by paragraphs 24 and 25 shall be given where at the end of the financial year the parent company has a significant holding in an undertaking which is not one of its subsidiary undertakings and does not fall within paragraph 21 (joint ventures) or paragraph 22 (associated undertakings).
(2)A holding is significant for this purpose if—
(a)it amounts to [F120 per cent.]or more of the nominal value of any class of shares in the undertaking, or
(b)the amount of the holding (as stated or included in the company’s individual accounts) exceeds [F1one-fifth] of the amount of its assets (as so stated).
Textual Amendments
F1Words in Sch. 5 para. 23(2) substituted (2.2.1996) by S.I. 1996/189, reg. 14(3), Sch. 3 para. 19 (with reg. 16)