Companies Act 2014

F521 [ Exemption from preparation where holding undertaking or higher holding undertaking is subject to equivalent reporting requirements

1456

1456. The directors of a company that is a subsidiary or a holding company are exempt from preparing 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,

(b) that holding undertaking or higher holding undertaking of the company that is governed by the laws of a Member State is subject to equivalent reporting requirements, and

(c) the payments to governments made by the company are included in a consolidated report drawn up to the same date, or an earlier date, in the same financial year, by that holding undertaking prepared in accordance with equivalent reporting requirements. ]

Annotations

Amendments:

F521

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.