C4C5C6C7Part 15Accounts and reports

Annotations:
Modifications etc. (not altering text)
C5

Pt. 15 applied (with modifications) (6.4.2008) by The Partnerships (Accounts) Regulations 2008 (S.I. 2008/569), regs. 4, 7, Sch. Pt. 1

C6

Pt. 15 applied (with modifications) (1.10.2009) by The Unregistered Companies Regulations 2009 (S.I. 2009/2436), regs. 3-5, Sch. 1 para. 16 (with transitional provisions and savings in regs. 7, 9, Sch. 2)

C3Chapter 4Annual accounts

Annotations:
Modifications etc. (not altering text)

Information to be given in notes to the accounts

C1I1C2409Information about related undertakings

1

The Secretary of State may make provision by regulations requiring information about related undertakings to be given in notes to a company's annual accounts.

2

The regulations—

a

may make different provision according to whether or not the company prepares group accounts, and

b

may specify the descriptions of undertaking in relation to which they apply, and make different provision in relation to different descriptions of related undertaking.

3

The regulations may provide that information need not be disclosed with respect to an undertaking that—

a

is established under the law of a country outside the United Kingdom, or

b

carries on business outside the United Kingdom,

if the following conditions are met.

4

The conditions are—

a

that in the opinion of the directors of the company the disclosure would be seriously prejudicial to the business of—

i

that undertaking,

ii

the company,

iii

any of the company's subsidiary undertakings, or

iv

any other undertaking which is included in the consolidation;

b

that the Secretary of State agrees that the information need not be disclosed.

5

Where advantage is taken of any such exemption, that fact must be stated in a note to the company's annual accounts.