§ 209A — Interpretation of this Part

209A. In this Part, unless the contrary intention appears —“balance sheet”, in relation to a company, means the balance sheet, by whatever name called, prepared in accordance with the Accounting Standards;

“consolidated financial statements” has the meaning given by the Accounting Standards;

“consolidated total assets” —(a)

in the case where consolidated financial statements are prepared in relation to a group — are determined in accordance with the accounting standards applicable to the group; or

(b)

in the case where consolidated financial statements are not prepared in relation to a group — means the aggregate total assets of all the members of the group;

“directors’ statement” means the statement of the directors mentioned in section 201(16);

“entity” means an entity that is referred to in the Accounting Standards in relation to the preparation of financial statements and the requirements for the preparation of financial statements;

“financial statements” means the financial statements of a company required to be prepared by the Accounting Standards;

“group” has the meaning given by the Accounting Standards;

“parent company” means a company that is required under the Accounting Standards to prepare financial statements in relation to a group;

“subsidiary company” means a company that is a subsidiary as defined in the Accounting Standards;

“subsidiary corporation” means a corporation that is a subsidiary as defined in the Accounting Standards;

“ultimate parent corporation” means a corporation which is a parent but is not a subsidiary, within the meaning of the Accounting Standards.[36/2014]