(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 of a fossil fuel, where the aggregate turnover of such undertakings accounts for 20 per cent or more of the turnover of the group on a consolidated basis, as derived from its most recently published audited financial statements;

'group' means an undertaking together with any holding undertaking, higher holding undertaking, subsidiary undertaking and fellow subsidiary undertakings that such undertaking may have;