(1) A company to which these Regulations apply shall give the information required by Part III of the Schedule to these Regulations by way of a note to its individual accounts or group accounts as the case may be.
(a) Subject to subparagraph (b), the information specified in paragraph (1) may, in lieu of being stated in a note to the accounts of the company concerned for any particular financial year of the company, be given in a statement in writing signed by a director and the secretary of the company and annexed to the first annual return made by the company next after its accounts for that year are laid before the annual general meeting of the company if, in the opinion of the directors of the company, compliance with paragraph (1) would require a note to the accounts of the company of excessive length.
(b) Subparagraph (a) shall not apply;
(i) in relation to information concerning a subsidiary of or an undertaking of substantial interest to a company (referred to subseque