Section 12: Group financial statements in relation to any wholly owned or virtually
consolidated text (as at 2018, amended since). juris shows the text as it was consolidated; it does not confirm that this is the law in force today.
12. Group financial statements in relation to any wholly owned or virtually
wholly owned company holding Global Business Licence
Notwithstanding section 212, any company holding a Global Business
Licence may not prepare group financial statements where it is a wholly owned
or a virtually wholly owned subsidiary of any company.