SCHEDULES

SCHEDULE 7U.K. Special Provisions for Banking and Insurance Companies and Groups

Part IIU.K. [Part II of Schedule 9 to the Companies Act 1985]Accounts of Banking or Insurance Group

Companies entitled to benefit of exemptionsE+W+S

5(1)Where a banking or insurance company is entitled to the exemptions conferred by paragraph 27 or 28 of Part I of this Schedule, a group headed by that company is similarly entitled.

(2)Paragraphs 27(4), 28(2) and 28A (accounts not to be taken to be other than true and fair; duty of auditors) apply accordingly where advantage is taken of those exemptions in relation to group accounts.