Sch 2 para 16
In section 101 (interpretation)— (a) insert at the appropriate place— “ accounts ” means the profit and loss account required to be prepared by section 396 of the Companies Act 2006 as applied by regulation 3 of the Insurance Accounts Directive (Miscellaneous Insurance Undertakings) Regulations 2008; (b) for the definition of “group accounts” substitute— “ group accounts ” means the accounts required to be prepared by section 404 of the Companies Act 2006 as applied by regulation 3 of the Insurance Accounts Directive (Miscellaneous Insurance Undertakings) Regulations 2008; (c) the definition of “subsidiary” does not apply.