Companies Act 2014
Main conditions for audit exemption — group situation
359. (1) In this section—
(a) “group company” means a company that is a holding company or a subsidiary undertaking; and
(b) references to the group, in relation to a group company, are references to that company, together with all its associated undertakings, and for the purposes of this paragraph undertakings are associated if one is the subsidiary undertaking of the other or both are subsidiary undertakings of a third undertaking.
(2) Subject to this Chapter, section 360 (audit exemption) applies to any group company in respect of its statutory financial statements for a particular financial year if the F235[group, would qualify under section 280B as a small group] in relation to that financial year.
(13) Nothing in this section nor in any subsequent provision of this Chapter prejudices the operation of Chapter 16 (special audit exemption for dormant companies).
Substituted (9.06.2017) by Companies (Accounting) Act 2017 (9/2017), s. 57(a), S.I. No. 246 of 2017, art. 3, subject to transitional provision in art. 4.
Deleted (9.06.2017) by Companies (Accounting) Act 2017 (9/2017), s. 57(b), S.I. No. 246 of 2017, art. 3, subject to transitional provision in art. 4.