SCHEDULES
F1SCHEDULE 5AGroup Accounts
Interpretation
1
1
This paragraph applies for the purposes of this Schedule.
F22
A charity is a “parent charity” if it is (or is to be treated as) a parent undertaking in relation to one or more other undertakings in accordance with the provisions of section 258 of, and Schedule 10A to, the Companies Act 1985.
3
Each undertaking in relation to which a parent charity is (or is to be treated as) a parent undertaking in accordance with those provisions is a “subsidiary undertaking” in relation to the parent charity.
4
But sub-paragraph (3) does not have the result that any of the following is a “subsidiary undertaking”—
a
any special trusts of a charity,
b
any institution which, by virtue of a direction under section 96(5) of this Act, is to be treated as forming part of a charity for the purposes of this Part of this Act, or
c
any charity to which a direction under section 96(6) of this Act applies for those purposes.
5
“The group”, in relation to a parent charity, means that charity and its subsidiary undertaking or undertakings, and any reference to the members of the group is to be construed accordingly.
6
For the purposes of—
a
this paragraph, and
b
the operation of the provisions mentioned in sub-paragraph (2) above for the purposes of this paragraph,
“undertaking” has the meaning given by sub-paragraph (7) below.
7
For those purposes “undertaking” means—
a
an undertaking as defined by section 259(1) of the Companies Act 1985, or
b
a charity which is not an undertaking as so defined.
Sch. 5A inserted (27.2.2007 for the insertion of Sch. 5A paras. 3(3)(b)(4)(5), 4(2)(3), 6(2), 8, 10(2)(3), 15 for specified purposes, 1.4.2008 in so far as not already in force) by Charities Act 2006 (c. 50), s. 79(2), Sch. 6 (with Sch. 10 para. 17); S.I. 2007/309, art. 2, Sch.; S.I. 2008/945, art. 2, Sch. 1