(1) Subject to these Regulations, the 1992 Group Accounts Regulations shall apply to an undertaking to which this Part applies that is a parent undertaking as they apply to the parent undertakings referred to in Regulation 5 (3) of those Regulations.
(2) In the case of a partnership to which this Part applies the partners shall prepare the group accounts referred to in Regulation 5 (1) of the 1992 Group Accounts Regulations and in the case of such partnerships any reference to group accounts prepared by the company shall be construed as a reference to group accounts prepared by the partners.
(3) Subject to these Regulations, the 1992 Group Accounts Regulations shall be applied to partnerships to which this Part applies a though those partnerships were companies formed and registered under the Companies Act with any modifications necessary to take account of the fact that such partnerships are unincorporated.
(4) Notwithstanding paragraphs (1), (2) and (3), an undertaking to which