(1) In this section -
'consolidated group for financial accounting purposes' means a group consisting of -
(i) a parent entity, and
(ii) all other entities, other than non-consolidating entities,
which are included in the same consolidated financial statements;
'non-consolidating entity' means an entity which is valued, or would be so valued if consolidated financial statements were prepared under international accounting standards, in consolidated financial statements -
(a) using fair value accounting (within the meaning of international accounting standards), or
(b) on the basis that it is an asset held for sale or held for distribution
(within the meaning of international accounting standards);
'parent entity' means an entity that prepares, or would prepare, consolidated financial statements under generally accepted accounting practice;
'significant influence in the management of ', in relation to an entity, means the ability to participate, on the board of directors or equivalent g
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