(1) Where an institution or relevant FCA investment firm is a member of a group whose members include undertakings which are not subject to the obligations in regulations 2(1) or 3(1) it shall be treated as having met those obligations if the parent undertaking has published the information required by regulations 2(1) or 3(1) in accordance withaccepted accounting standards on a consolidated basis for each country in which an undertaking which is a member of the group is situated, in respect of all the undertakings which are members of the group.

(2) For the purposes of this regulation "group" , in relation to an institution or relevant FCA investment firm, has the same meaning as "immediate group" in section 421ZA of the 2000 Act and "parent undertaking" has the same meaning as it has for the purposes of that section.