Companies Act 2014


Information on related undertakings: provision for certain information to be annexed to annual return

316. (1) If the directors of a company form the opinion that the number of undertakings in respect of which the company is required to disclose information under section 314 is such that compliance with the provisions of that section would result in a note to the statutory financial statements of excessive length, the information mentioned in that section need only be given in such a note in respect of—

(a) the undertakings whose assets, liabilities, financial position or profit or loss, in the opinion of the directors, principally affected the amounts shown in the company’s statutory financial statements, and

(b) undertakings excluded from the consolidation under section 303(3).

(2) If advantage is taken of subsection (1)

(a) there shall be included in the notes to the company’s statutory financial statements a statement that the information given deals only with the undertakings mentioned in that subsection, and

(b) the information specified in section 348(4) shall be annexed to the annual return of the company to which the statutory financial statements are annexed.

(3) If a company fails to comply with subsection (2), the company and any officer of it who is in default shall be guilty of a category 3 offence.

(4) In subsection (3)“officer” includes any shadow director and de facto director.


Modifications (not altering text):


Application of subs. (3) extended (1.01.2020) by European Union (Qualifying Partnerships: Accounting and Auditing) Regulations 2019 (S.I. No. 597 of 2019), reg. 42(5)(a), (b), in effect as per reg. 1(2), (3).


42. ...

(5) (a) A qualifying partnership that fails to comply with any provision referred to in sections 316(3), 325(6), 332(4), 335(3), 335(6), 337(5), 340(7), 343(11), 347(5), 348(6), 374(4), 376(3), 377(7), 1459 or 1460 of the Principal Act as applied by these Regulations commits an offence.

(b) Where an offence under subparagraph (a) is committed by a qualifying partnership and it is proved that the offence was committed with the consent or connivance, or was attributable to any wilful neglect, of a person who was -

(i) a member of the qualifying partnership,

(ii) a director of such a member, or

(iii) a person purporting to act in either such capacity,

that person shall, as well as the qualifying partnership, be guilty of an offence and may be proceeded against and punished as if he or she were guilty of the first-mentioned offence.