[(1) The directors of a company are not required to deliver a copy of the company's individual accounts to the registrar in respect of a financial year if—
(a) the company is 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
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