[394A Individual accounts: exemption for dormant subsidiaries]
Companies Act 2006 | Legislation

[394A  Individual accounts: exemption for dormant subsidiaries]

[(1)     A company is exempt from the requirement to prepare individual accounts for a financial year if—

(a)     it is itself a subsidiary undertaking,

(b)     it has been dormant throughout the whole of that year, and

(c)     its parent undertaking is established under the law of [any part of the United Kingdom].

(2)     Exemption is conditional upon compliance with all of the following conditions—

(a)     all members of the company must agree to the exemption in respect of the financial year in question,

(b)     the parent undertaking must give a guarantee under section 394C in respect

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