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Changes over time for: Paragraph 28
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Version Superseded: 06/04/2008
Status:
Point in time view as at 06/03/1992. This version of this provision has been superseded.
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Changes to legislation:
There are currently no known outstanding effects for the Companies Act 1989, Paragraph 28.
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28(1)Where the holding of the group amounts to 20 per cent. or more of the nominal value of the shares in the undertaking, there shall also be stated—
(a)the aggregate amount of the capital and reserves of the undertaking as at the end of its relevant financial year, and
(b)its profit or loss for that year.
(2)That information need not be given if—
(a)the undertaking is not required by any provision of this Act to deliver a copy of its balance sheet for its relevant financial year and does not otherwise publish that balance sheet in Great Britain or elsewhere, and
(b)the holding of the group is less than 50 per cent. of the nominal value of the shares in the undertaking.
(3)Information otherwise required by this paragraph need not be given if it is not material.
(4)For the purposes of this paragraph the “relevant financial year” of an outside undertaking is—
(a)if its financial year ends with that of the parent company, that year, and
(b)if not, its financial year ending last before the end of the parent company’s financial year.
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