(1) An undertaking providing a public electronic communications network or a publicly available electronic communications service that is also engaged in an activity other than the provision of such network or service on the basis of special or exclusive rights for the provision of that activity, whether in the State or in another Member State, shall -

(a) keep separate accounts audited in accordance with generally accepted auditing practices for the activities associated with the provision of that network or service, to the extent that would be required if those activities were carried out by one or more legally independent entities in order to identify all elements of cost and revenue, with the basis of their calculation and the detailed attribution methods used, related to such activities including an itemised breakdown of fixed assets and structural costs, or

(b) have structural separation for the activities associated with the provision of electronic communications networks or services.

(2) Where an undertaking providing a public electronic communications network or a publicly available electronic communications service is not subject to the Companies Act 2014 and does not satisfy the small and medium sized enterprise criteria of European Union law accounting rules, it shall ensure that -