Companies Act 2014
F521 [ Exemption from preparation where holding undertaking or higher holding undertaking is subject to equivalent reporting requirements
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. ]
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.