Sch 4 para 2 Financial information about subsidiary undertakings
(1) There must be disclosed with respect to each subsidiary undertaking not included in consolidated accounts by the company— (a) the aggregate amount of its capital and reserves as at the end of its relevant financial year, and (b) its profit or loss for that year. (2) That information need not be given if the company is exempt by virtue of section 400 or 401 of the 2006 Act from the requirement to prepare group accounts (parent company included in accounts of larger group). (3) That information need not be given if the company's investment in the subsidiary undertaking is included in the company's accounts by way of the equity method of valuation. (4) That information need not be given if— (a) the subsidiary undertaking is not required by any provision of the 2006 Act to deliver a copy of its balance sheet for its relevant financial year and does not otherwise publish that balance sheet in the United Kingdom or elsewhere, and (b) the company's holding is less than 50% of the nominal value of the shares in the undertaking. (5) Information otherwise required by this paragraph need not be given if it is not material. (6) For the purposes of this paragraph the “relevant financial year” of a subsidiary undertaking is— (a) if its financial year ends with that of the company, that year, and (b) if not, its financial year ending last before the end of the company's financial year.