Companies Act 2014

F519 [ Exemption from preparation where certain payments included in consolidated payment report of holding company or higher holding undertaking

1454

1454. (1) The directors of a company that is a subsidiary or a holding company shall be exempt from preparing an entity payment report if any payments to governments made by the company are included in the consolidated payment report prepared by the holding company in accordance with section 1451.

(2) The directors of a company that is a subsidiary or a holding company shall be exempt from the requirement to prepare an entity payment report under section 1450 or, in the case of a holding company, a consolidated payment report under section 1451 if

(a) any holding undertaking or higher holding undertaking of the company is subject to the provisions implementing Chapter 10 of the Accounting Directive in a Member State other than the State, and

(b) any payments to governments made by the company are included in the consolidated report drawn up by that holding undertaking. ]

Annotations

Amendments:

F519

Inserted (9.06.2017) by Companies (Accounting) Act 2017 (9/2017), s. 87, S.I. No. 246 of 2017, art. 3, subject to transitional provision in art. 4.