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Companies Act 1985

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Changes over time for: Cross Heading: Undertakings to be included in consolidation

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No versions valid at: 02/10/1991

Status:

Point in time view as at 02/10/1991. This version of this cross heading contains provisions that are not valid for this point in time. Help about Status

Changes to legislation:

There are currently no known outstanding effects for the Companies Act 1985, Cross Heading: Undertakings to be included in consolidation. Help about Changes to Legislation

Valid from 02/12/1991

F1 Undertakings to be included in consolidationE+W+S

Textual Amendments

F1Sch. 9: by virtue of S.I. 1991/2705, regs. 5(1), 9, Pts. I and II of Sch. 9 have formed (2.12.1991) a new Schedule numbered Schedule 9A.

F21The following descriptions of undertaking shall not be excluded from consolidation under section 229(4) (exclusion of undertakings whose activities are different from those of the undertakings consolidated)—

(a)in the case of a banking group, an undertaking (other than a credit institution) whose activities are a direct extension of or ancillary to banking business;

(b)in the case of an insurance group, an undertaking (other than one carrying on insurance business) whose activities are a direct extension of or ancillary to insurance business.

For the purposes of paragraph (a) “banking” means the carrying on of a deposit-taking business within the meaning of the Banking Act F31987.

Textual Amendments

F2Sch. 9: by virtue of S.I. 1991/2705, regs. 5(1), 9, Pts. I and II of Sch. 9 have formed (2.12.1991) a new Schedule numbered Schedule 9A.

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