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COMPANIES ACT (NORTHERN IRELAND) 1960 - SECT 146

Contents of group accounts.

146.(1) [The group accounts laid before a company] shall give a true and fair
view of the state of affairs and profit or loss of the company and the
subsidiaries dealt with thereby as a whole, so far as concerns members of
the company.

(2) Where the financial year of a subsidiary does not coincide with that of
the holding company, the group accounts shall, unless the Ministry on the
application or with the consent of the holding company's directors otherwise
directs, deal with the subsidiary's state of affairs as at the end of its
financial year ending with or last before that of the holding company, and
with the subsidiary's profit or loss for that financial year.

(3) Without prejudice to sub-section (1), the group accounts, if prepared as
consolidated accounts, shall comply with the requirements of the Sixth
Schedule so far as applicable thereto, and if not so prepared shall give the
same or equivalent information, so, however, that the Ministry may, on the
application or with the consent of a company's directors, modify the said
requirements in relation to that company for the purpose of adapting them to
the circumstances of the company.


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© 1960 Crown Copyright

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