Determining the worldwide group: “non-consolidated subsidiary” and “consolidated subsidiary”U.K.
19(1)Section 475 (meaning of “non-consolidated subsidiary” and “consolidated subsidiary”) is amended as follows.
(2)In subsection (1)(b), omit “or on the basis that X were an asset held for sale or held for distribution to owners”.
(3)For subsection (3) substitute—
“(3)In this section “subsidiary” has the meaning given by international accounting standards.”