(1) [deleted]
(2) If at the end of a financial year a company is a parent company the directors, as well as preparing individual accounts for the year, must prepare group accounts for the year unless the company is exempt from that requirement.
(2A) A company is exempt from the requirement to prepare group accounts if -
(a) at the end of the financial year , the company -
(i) is subject to the small companies regime, or
(ii) would be subject to the small companies regime but for being a public company, and
(b) is not a member of a group which, at any time during the financial year, has an undertaking falling within subsection (2B) as a member.
(2B) An undertaking falls within this subsection if -
(a) it is established under the law of any part of the United Kingdom,
(b) it has to prepare accounts in accordance with the requirements of this Part of this Act, and
(c) it -
(i) is an undertaking whose transferable securities are admitted to trading on a UK regulated market,
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