(1) In this section -
"amount of turnover" and "balance sheet total" have the same meanings as they have in section 275;
"relevant company" means either of the following -
(a) a company that, in both the most recent financial year of the company and the immediately preceding financial year, meets the following criteria -
(i) the balance sheet total of that company exceeds for the year -
(I) subject to clause (II), €25,000,000; or
(II) if an amount is prescribed under section 943(1)(i), the prescribed amount;
and
(ii) the amount of turnover of that company exceeds for the year -
(I) subject to clause (II), €50,000,000; or
(II) if an amount is prescribed under section 943(1)(i), the prescribed amount;
or
(b) a company which has one or more subsidiary undertakings, if the company and all those subsidiary undertakings together, in both the most recent financial year of that company and the immediately preceding financial year, meet the criteria set out in paragraph (a).
(2) The board o
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