C1Part 8Charity accounts, reports and returns
CHAPTER 2Group accounts
141“Parent charity”, “subsidiary undertaking” and “group”
1
This section applies for the purposes of this Part.
2
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 1162 of, and Schedule 7 to, the Companies Act 2006.
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 subsection (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 12(1), is to be treated as forming part of a charity for the purposes of this Part, or
c
any charity to which a direction under section 12(2) applies for the purposes of this Part.
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 read accordingly.
6
For the purposes of this section and the operation for those purposes of section 1162 of, and Schedule 7 to, the Companies Act 2006 “undertaking” means—
a
an undertaking as defined by section 1161(1) of the 2006 Act, or
b
a charity which is not an undertaking as so defined.
Pt. 8 applied (with modifications) (2.1.2013) by The Charitable Incorporated Organisations (Insolvency and Dissolution) Regulations 2012 (S.I. 2012/3013), regs. 1, 41