[479A Subsidiary companies: conditions for exemption from audit]
Companies Act 2006 | Legislation

[Exemption from audit: qualifying subsidiaries]

[479A  Subsidiary companies: conditions for exemption from audit]

[(1)     A company is exempt from the requirements of this Act relating to the audit of individual accounts for a financial year if—

(a)     it is itself a subsidiary undertaking, and

(b)     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 479C in

Popular documents