338Meaning of “group”U.K.
This section has no associated Explanatory Notes
(1)Subject to subsections (2) and (3), in this Part “group” has the meaning for the time being given by international accounting standards.
(2)If a group would (apart from this subsection) contain more than one ultimate parent, each of those ultimate parents, together with its subsidiaries, is to be treated as a separate group.
(3)An entity that is a parent of the ultimate parent of a group is to be treated as not being a member of the group.
(4)Subsections (2) and (3) do not apply for the purposes of section 339.