Companies Act 2014

F824[Certain undertakings exempt from inclusion in a consolidated payment report


1457. (1) Subject to subsection (2), an undertaking, including a relevant undertaking, shall not be required to be included in a consolidated payment report where

(a) severe long-term restrictions substantially hinder the holding company in the exercise of its rights over the assets or management of that undertaking,

(b) in extremely rare cases, the information necessary for the preparation of the consolidated payment report cannot be obtained without disproportionate expense or undue delay, or

(c) the interest of the holding company is held exclusively with a view to subsequent resale.

(2) The exemptions referred to in subsection (1) shall apply only if the holding company availed of the similar exemptions available under section 303 in relation to that undertaking for the purposes of preparing its group financial statements in accordance with section 293.]




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.