SCHEDULE 6NOTES TO ANNUAL ACCOUNTS: INFORMATION IN RESPECT OF HOLDINGS IN UNDERTAKINGS
PART IISOCIETIES REQUIRED TO PREPARE CONSOLIDATED ACCOUNTS
Financial information about subsidiary undertakings not included in the consolidation11
1
There shall be shown with respect to each subsidiary undertaking not included in the consolidation—
a
the aggregate amount of its capital and reserves as at the end of its relevant financial year, and
b
its profit or loss for that year.
2
The information referred to in sub-paragraph (1) need not be given if the group’s investment in the subsidiary undertaking is included in the accounts by way of the equity method of valuation or if—
a
the subsidiary undertaking is not required by and provision of the Companies Act 1985 or the Companies (Northern Ireland) Order 1986 to deliver a copy of its balance sheet for its relevant financial year and does not otherwise publish that balance sheet in the United Kingdom or elsewhere, and
b
the holding of the group is less than 50 per cent. of the nominal value of the shares in the subsidiary undertaking.
3
Information otherwise required by this paragraph need not be given if it is not material for the purpose of giving a true and fair view for the society and its subsidiary undertakings as a whole, of the matters set out in subsections (2), (3) and (4) of section 73 of the Act.
4
For the purpose of this paragraph the “relevant financial year” of a subsidiary undertaking is—
a
if its financial year ends with that of the society, that year, and
b
if not, its financial year ending last before the end of the society’s financial year.