Significant holdings in undertakings other than subsidiary undertakingsE+W+S
7(1)The information required by paragraphs 8 and 9 shall be given where at the end of the financial year the company has a significant holding in an undertaking which is not a subsidiary undertaking of the company.
(2)A holding is significant for this purpose if—
(a)it amounts to 10 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 accounts) exceeds one-tenth of the amount (as so stated) of the company’s assets.
8(1)The name of the undertaking shall be stated.
(2)There shall be stated—
(a)if the undertaking is incorporated outside Great Britain, the country in which it is incorporated;
(b)if it is incorporated in Great Britain, whether it is registered in England and Wales or in Scotland;
(c)if it is unincorporated, the address of its principal place of business.
(3)There shall also be stated—
(a)the identity of each class of shares in the undertaking held by the company, and
(b)the proportion of the nominal value of the shares of that class represented by those shares.
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.