400 Exemption for company included in [UK] group accounts of larger group
400 Exemption for company included in [UK] group accounts of larger group
Companies Act 2006 | Legislation

(1)     A company is exempt from the requirement to prepare group accounts if it is itself a subsidiary undertaking and its immediate parent undertaking is established under the law of [any part of the United Kingdom], in the following cases—

(a)     where the company is a wholly-owned subsidiary of that parent undertaking;

[(b)     where that parent undertaking holds 90% or more of the allotted shares in the company and the remaining shareholders have approved the exemption;

(c)     where that parent undertaking holds more than 50% (but less than 90%) of the allotted shares in the company and notice requesting the preparation of group accounts has not been served on the company by the shareholders holding in aggregate at least 5% of the allotted shares in the company.

Such notice mus

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