SCHEDULES
SCHEDULE 3Disclosure of Information: Related Undertakings[Schedule 5 to the Companies Act 1985]
Part ICompanies not Required to Prepare Group Accounts
Significant holdings in undertakings other than subsidiary undertakings
9
1
Where the company has a significant holding in an undertaking amounting 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 company is exempt by virtue of section 228 from the requirement to prepare group accounts (parent company included in accounts of larger group), and
b
the investment of the company in all undertakings in which it has such a holding as is mentioned in sub-paragraph (1) is shown, in aggregate, in the notes to the accounts by way of the equity method of valuation.
3
That information need not be given in respect of an undertaking 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 company’s holding is less than 50 per cent. of the nominal value of the shares in the undertaking.
4
Information otherwise required by this paragraph need not be given if it is not material.
5
For the purposes of this paragraph the “relevant financial year” of an undertaking is—
a
if its financial year ends with that of the company, that year, and
b
if not, its financial year ending last before the end of the company’s financial year.