(1) Subject to paragraph (2), a parent undertaking shall apply the same methods of valuation in drawing up group accounts as it applies in drawing up its individual accounts.
(2) Subject to Regulation 28, paragraph (1) shall not apply where, in the opinion of the directors, a departure from the provisions of that paragraph is necessary for the purposes of Regulation 14(1) or, where in accordance with section 150(2) (a) or (3) (b) of the Principal Act, the parent company prepares IFRS group accounts.
(3) Any application of paragraph (2) and the reasons therefore shall be disclosed in the notes to the group accounts.