(1) In this section -
'fellow subsidiary undertakings', 'higher holding undertaking', 'holding undertaking', 'subsidiary undertaking' and 'undertaking' have the respective meanings given to them by the Companies Act 2014;
'fossil fuel' means coal, oil, natural gas, peat or any derivative thereof intended for use in the production of energy by combustion;
'fossil fuel undertaking' means an undertaking which is -
(a) engaged, for the time being, in the exploration for or extraction or refinement of a fossil fuel where such activity accounts for 20 per cent or more of the turnover of that undertaking, as derived from its most recently published audited financial statements,
(b) a holding undertaking or, as the case may be, a higher holding undertaking of an undertaking of the kind referred to in subparagraph (a), or
(c) a holding undertaking or, as the case may be, a higher holding undertaking of undertakings engaged, for the time being, in the exploration for or extraction or refinement
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