Textual Amendments
F1Sch. 7A inserted (with effect in accordance with Sch. 5 para. 25(1)(2) of the amending Act) by Finance (No. 2) Act 2017 (c. 32), Sch. 5 para. 2 (with Sch. 5 para. 28)
6(1)This paragraph applies where the appointment of a reporting company has effect in relation to a period of account of a worldwide group (“the relevant period of account”).U.K.
(2)The reporting company must, as soon as reasonably practicable after the relevant time, notify each relevant company that it is the group's reporting company in relation to the relevant period of account.
(3)In sub-paragraph (2) “the relevant time” means—
(a)if the relevant period of account is the first period of account in relation to which the appointment has effect, the time of the appointment;
(b)otherwise, the end of the period of 6 months beginning with the end of the relevant period of account.
(4)Sub-paragraph (2) does not require the reporting company to notify a relevant company if the reporting company notified that company under that sub-paragraph in relation to an earlier period of account.
(5)The duty to comply with sub-paragraph (2) is enforceable by the company required to be notified under that sub-paragraph.
(6)For the purposes of this paragraph a company is “relevant” if and only if the company meets condition A or B.
(7)Condition A is that the company—
(a)was a UK group company at a time during the relevant period of account, and
(b)was not dormant throughout that period.
(8)Condition B is that the company is the ultimate parent of the worldwide group.]