General Rules
(1) Where the directors of a company prepare Companies Act group accounts, those group accounts shall comply so far as practicable with the provisions of Part I of this Schedule as if the undertakings included in the consolidation ("the group") were a single company.
(2) In particular, for the purposes of note (20) to the balance sheet format set out in Section B of Chapter 1 of Part 1 of this Schedule and paragraphs 66 (5) and 67 of Part 1 of this Schedule as it applies to group accounts -
(a) any subsidiary undertakings of the parent company not included in the consolidation shall be treated as subsidiary undertakings of the group, and
(b) if the parent company is itself a subsidiary undertaking, the group shall be treated as a subsidiary undertaking of any parent undertaking of that company, and the reference to fellow-subsidiary undertakings shall be construed accordingly.
(1) Subject to the exceptions authorised or required by this paragraph,